American Airlines Issues $1.14 Billion in Bonds to Finance 32 Planes
American Airlines Group Inc. is selling $1.14 billion in bonds to finance the purchase of 32 planes. The bonds, structured as enhanced equipment trust certificates (EETCs), are collateralized by the aircraft and are expected to be rated investment-grade by S&P. The move comes amid rising fuel costs and pressure on airline earnings.
Tickers: $AAL
Topics: airline industry bond issuance debt financing financial strategy fuel costs