The company expects to use a portion of the net proceeds from the offerings for general corporate purposes and to enhance its liquidity position, the airline said in a statement. The stock and notes offerings include a 30-day option for the underwriters to purchase up to $112.5 million of additional common shares and up to $112.5 million of additional notes respectively, the company said. American Airlines and Delta Air Lines Inc said last week that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic.
