American Air Gets $5.48 Billion U.S. Loan in Upsized Deal

(Bloomberg) — American Airlines Group Inc. closed a $5.48 billion loan with the U.S. Treasury, increasing its pool of cash to help fund operations until travel demand begins to return.The credit facility, backed by American’s loyalty program, increased from an original $4.75 billion target after rivals such as Delta Air Lines Inc. and Southwest Airlines Co. opted out of the funds and the remaining money was reallocated. American could receive as much as $2 billion more when the funds are adjusted a second time next month, according to a regulatory filing Friday.The deal makes American the first major carrier to …read more

Source:: Yahoo Finance