American Airlines announces stock offering of 38.5m shares

American Airlines Group announced a proposed underwritten public offering of 38.5m shares of its common stock on Tuesday, as the airline looks to boost its liquidity amid falling sales during the coronavirus crisis. Sole bookrunner Bank of America has priced the offering at $13 per share, representing a discount of 1.5% to the airline’s closing price on Monday, according to sources. American Airlines said it expects to use the net proceeds from the offering for general corporate purposes. The airline said it expects to end Q4 with more than $14.5b in total available liquidity, up from $13.6b at the end of Q3.<br/>