Delta, American Air in talks to borrow billions amid pandemic

Delta Air Lines and American Airlines Group are in talks to arrange billions of dollars in new financing amid a broad rush for cash by airlines, casinos and other companies with revenue hit by the coronavirus pandemic, according to people familiar with the matter. Delta is in discussions with banks, led by agent JPMorgan Chase to raise between US$2b and $4b with a 364-day secured term-loan facility, the people said. American also is negotiating a multibillion-dollar 364-day secured term-loan facility. President Donald Trump said Monday the US govt would strongly back the nation’s airlines, hours after the industry said it needed $58b in aid. A4A released a memo Monday outlining urgent needs and describing a dire financial situation. <br/>