Troubled trucker YRC to seek $1 billion pension bailout

Art Hatfield, an analyst at Morgan Keegan, said that YRC's plan to appeal for federal aid emphasized the scale of the Overland Park, Kansas-based trucker's problems.

"YRC is desperate for cash, they're on the verge of bankruptcy every day," he said. "Business is terrible and it's not getting any better."

In trade on Nasdaq YRC shares were down more than 7 percent at $3.05.

(Additional reporting by Ajay Kamalakaran in Bangalore, Scott Malone in Boston and David Lawder in Washington; Editing by Derek Caney, Leslie Gevirtz)