American Airlines is raising another $3.5 billion

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American Airlines is raising another $3.5 billion

Postby Greg on Tue Jun 23, 2020 8:58 am

American Airlines is planning to raise $3.5 billion to weather the coronavirus pandemic, supporting Warren Buffett's decision to sell his shares in the carrier as well as in Delta Air Lines, Southwest Airlines, and United Airlines in April.

American intends to sell $1.5 billion of debt in a private offering, issue $750 million in common stock and $750 million in convertible debt in a public offering, and enter into a $500 million loan facility, the company said in a pair of press releases on Sunday.

The other "big four" airlines have made similar moves. Delta has raised over $14 billion since the beginning of March, CEO Ed Bastian said at the carrier's annual meeting last week, according to Sentieo, a financial-research site.

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