American Airlines is hiring pilots

FILE/ASSOCIATED PRESS

American Airlines says it will hire 1,500 pilots over the next five years and recall all of its pilots who have been furloughed.

American plans to start recruiting new pilots this fall. It’s in the process of hiring 1,500 new flight attendants.

A large number of working pilots are hitting a new mandatory retirement age of 65. The age was raised from age 60 a little more than five years ago.

American earned $71 million in August, after losing $82 million a year earlier. Revenue rose 7 percent to $2.34 billion.

American is seeking to exit bankruptcy protection in a merger with US Airways, but first it needs to get past an antitrust lawsuit filed by the Justice Department. A trial is scheduled to begin Nov. 25.

THE STOCK

AMR Corp. (AAMRQ)

Tuesday’s close:

$4.45, ▲ $0.34, or 8.27%

52-week range $0-$7

Annual dividend None

Price-earnings ratio* Lost
money

Total return YTD 460%

3-year ** -10%

5-year ** -17%

10-year ** -9%

Market value $1.5 billion

 

Note: Total returns through Tuesday

* Trailing 12 months; ** Annualized

 

Source: FactSet, Associated Press

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