American Air Focuses on U.S. Aid While Rivals Sell Bonds, Equity
- Carrier is still negotiating $4.75 billion Treasury loan
- Company will shrink but will retain all its airport hubs
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American Airlines Group Inc. is doubling down on government aid even as rivals expand their funding sources with sales of shares and bonds.
The largest carrier based on passenger traffic has been absent amid a recent flurry of activity in debt and equity markets tapped by Delta Air Lines Inc., United Airlines Holdings Inc. and Southwest Airlines Co. Instead, American is focused on negotiating a $4.75 billion loan from the U.S. Treasury Department. Like other carriers, American has already gotten U.S. payroll aid, taking $5.8 billion in grants and loans.