American Airlines Shores Up $2.9 Billion In Funds

Law360, New York (September 17, 2009, 3:26 PM EDT) -- AMR Corp., parent company of American Airlines Inc., has raised $2.9 billion in liquidity through sale and loan agreements with Citigroup Inc. and General Electric Co.

Texas-based AMR secured $1 billion in cash from the advance sale of its AAdvantage frequent-flyer program to Citigroup, the airline's current credit card partner, the company said Thursday.

In a separate deal, AMR has secured $280 million in cash under a new loan facility with GE Capital Aviation Services, General Electric's aircraft finance unit. The loan will be secured by...
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