Airline stocks rose Monday
American Airlines, meanwhile, announced plans to raise $7.5 billion by borrowing against its frequent-flyer program ;
The carrier is marketing two $2.5 billion series of notes maturing in 2026 and 2029, and a term loan credit facility of the same amount due in 2028, according to a news release ;
Fitch Ratings said American’s liquidity has improved more than it expected because of federal loans and money to help cover payrolls ;
Shares of American Airlines ended Monday up 5%. United rose 7%, Southwest Airlines gained 6.4% and Delta tacked on 3.6%.
*Apnews- Bloomberg.
The carrier is marketing two $2.5 billion series of notes maturing in 2026 and 2029, and a term loan credit facility of the same amount due in 2028, according to a news release ;
Fitch Ratings said American’s liquidity has improved more than it expected because of federal loans and money to help cover payrolls ;
Shares of American Airlines ended Monday up 5%. United rose 7%, Southwest Airlines gained 6.4% and Delta tacked on 3.6%.
*Apnews- Bloomberg.
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