American Airlines seeks $3.5 billion in new financing

American Airlines Group Inc (AAL.O) said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline’s liquidity as it grapples with travel restrictions caused by the coronavirus, Report informs, citing Reuters.

The company plans to raise $1.5 billion by selling shares and senior convertible notes due 2025, the airline said in a statement.

The airline said it would offer $1.5 billion in senior secured notes and that it intends to enter into a new $500 million term loan facility due 2024.