The two biggest airline deals of all time may never get off the ground. Developer Donald Trump last week withdrew his $7.5 billion bid for AMR, the parent company of American Airlines, because the firm's stock price had plunged far below his $120-a-share offer during Wall Street's anxiety attack over heavily leveraged deals (AMR closed at 70 7/8, down 27 3/4 for the week). AMR's board declared that the company is not for sale, but Trump said he might launch another bid at a lower price.
Meanwhile, the employee-management buyout bid for UAL, the parent company of United Airlines, lost a...
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