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....
American Airlines declined to comment. 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....
(Bloomberg) -- Florida cases jumped 3.7%, more than the weekly average, while New York reported infections in line with trends. An infectious disease researcher expects a “forest fire of cases” and no let up this summer.China suspended imports from a Tyson Foods U.S. poultry plant after a cluster of coronavirus cases. Germany also blamed outbreaks in the meat industry as the infection rate rose for a second day.The U.K. will set out plans to further ease restrictions this week. Chancellor of the Exchequer Rishi Sunak is considering an emergency reduction in the value-added tax, the Sunday Times reported.Key Developments:Global Tracker: Cases pass 8.8 million; deaths top 465,000Here’s what you need to know about phase two as NYC reopensTyson, Pepsi among companies hit by fallout of Beijing outbreakU.K. will set out further easing measures this weekCases increase 1.3% in Russia, 1.1% in IranTrump questions the U.S. case countSubscribe to a daily update...
(Bloomberg) -- American Airlines Group Inc. is seeking to raise about $1.5 billion by selling shares and convertible notes, according to people with knowledge of the matter, as it shores up liquidity after months of travel disruption from the coronavirus pandemic.The carrier, which has been gauging demand from potential investors over the weekend, could announce the offering as early as Sunday, the people said, asking not to be identified because the information is private. Deliberations are ongoing, and the timing and details of any deal could change, they said.A representative for American declined to comment.Fort Worth, Texas-based American is also planning a junk bond offering to raise about $2 billion at a yield of 11%, Bloomberg News reported Friday. The company is working with Citigroup Inc. on the debt offering, which could be launched as soon as this coming week.Delta Air Lines Inc., Southwest Airlines Co. and JetBlue Airways Corp. have...
