Grounded: Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked in California. The company will take delivery of fewer jets this year due to the travel halt caused by Covid-19. — Reuters
TEXAS: Southwest Airlines Co raised about US$4bil by selling shares and convertible notes, stepping up a push to add liquidity as the coronavirus pandemic all but erases demand for flights.
The carrier sold 70 million shares at US$28.50 apiece and US$2bil of convertible notes due in 2025, according to a statement. Southwest increased both the stock and bond portion of the sale from what it had previously targeted.
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