Airlines Refuel Finances To Aid M&A Prospects

AMR, parent company to American Airlines, announced on September 21 that it is applying to go to market, in order to shore up its turbulent balance sheet and provide capital for M&A activity. The Texas-based firm is applying to refuel its finances by listing 30mn common shares and selling-off US$250mn in convertible senior loan notes, due 2014. AMR is part of a developing trend of companies heading to market, to jump onboard the rebounding flight of M&A deals seen in Q309. AMR's market rival, Delta Air Lines also went public in the week ended September 18, raising US$1.5bn in loans and bonds.

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