American Airlines to raise US$1.5bil selling shares, debt notes

The stock and notes offerings include a 30-day option for the underwriters to purchase up to US$112.5 million of additional common shares and up to $112.5 million of additional notes respectively, the airlines said.

NEW YORK: American Airlines Group Inc said on Sunday it plans to raise US$1.5 billion by selling shares and convertible senior notes, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus.

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.