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AMR secures $2.9 billion liquidity
21 September 2009
AMR shores up cash and new aircraft financing through combined actions
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[AMR Corporation]
[American Airlines]
[American Eagle Airline]
[Gecas]
[Bombardier]
[CRJ700]
[sale/leaseback]
AMR Corporation, the parent company of American Airlines and American Eagle Airlines, raised $2.9 billion in additional liquidity last week.
The company sold $1 billion worth of AAdvantage frequent flyer miles in advance to Citi, AMR’s credit card partner, through an amendment to an existing agreement. Under the agreement Citi has the right to...
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