American Airlines seeks $3.5 billion in new financing | Reuters

In order to combat this the company released a plan on Sunday to overcome the damage. The company will sell its shares while also selling convertible senior notes due in 2015. They will use the net proceeds to enhance the availability of assets for the company. According to Reuters, “ American Airlines and Delta Air Lines Inc (DAL.N) 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.”

Source: https://www.reuters.com/article/us-american-airline-offering/american-airlines-seeks-3-5-billion-in-new-financing-idUSKBN23S0QA