It's Tuesday, November 29th, and this is Market Fullry.

I'm Chris Helen joining me in studio today for Motley Stock Advisor, Jason Moser,

and from Motley options. Once again, from the Great White North, Mr. Jim Gillies.

Hi Chris. Good to see you again. I'm assuming you're headed back up to Canada at some point.

You assume correctly.

I'm getting ou to ou to boot as they say.

All right, we've got the latest on Facebook, but we're going to start with American Airlines

shares down about 80% this morning as the company filed for bankruptcy. Jim I'll start with you a lot of

pieces to this but let's just start with the immediate one with American Airlines.

What are sort of the next steps in the process for the company?

Obviously they're going to keep flying even though they're in bankruptcy.

They are.

What happens next?

I think a lot of employees should probably get used to, shall we say lower pay packages,

they're going to ram through lower labor costs, which is not good news if you're a pilot for

them and you might wish you'd settled earlier. I think that it's really a

competitive move so they can get in line with with their other compatriots. I think

they're the number three carrier now, number three American carrier. You know

everyone else has done it so why not us too?

And it's, I mean, to stay competitive, they pretty much have to do it.

I was going to say, Jason, I mean, one of the things that I was reading this morning

is, I mean, this is the last of sort of the quote-unquote legacy airlines to stave off bankruptcy.

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