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This is definitely the critical time for Airlines. Its very obvious the reports wouldn't look nice now and even in the coming 12months. In stock market what we do is to buy low sell high, so the next question is can AA survive? Nobody can tell for sure, but my opinion is that AA is the best affordable airlines in the world, MAS is half dead, the government wouldnt want the company die.
So again, buy low sell high, buy now? YES, and buy even more if it drop further.