American Airlines announces private offering to pay for new jets

Posted Wednesday, Mar. 06, 2013  comments  Print Reprints
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American Airlines announced a $663 million private offering to finance aircraft at the Fort Worth-based carrier, including four new Boeing 777-300ERs scheduled for delivery this summer.

The company received approval for the financing from the U.S. Bankruptcy Court in New York last month so it could pay for the new aircraft and refinance nine existing planes in American's fleet. The bonds will be sold in two separate issuances.

The new equipment certificates will be secured by eight Boeing 737-800 aircraft and one Boeing 777-200ER that American currently owns and which are either unencumbered or have private mortgage financing.

The notes will also be secured by the four new Boeing aircraft that are scheduled to be delivered between April and July.

Andrea Ahles, 817-390-7631

Twitter: @Sky_Talk

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