US Airways, American Complete Share Sales

September 28, 2009

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American Airlines said on Monday that its share sale generated USD$400 million, while US Airways raised USD$137.3 million in net proceeds from its sale after fees and costs.

American issued more than 48 million common shares, while US Airways issued more than 29 million common shares in the offering.

The proceeds would be used for general corporate purposes, US Airways said.

Some US airlines have sold shares, debt or both in recent weeks to shore up their liquidity positions. The moves have helped dispel investor fears of an airline bankruptcy, at least in the near term.

The closing of both offerings was announced after the bell on Monday. US Airways shares fell 2 cents to USD$4.94 on the New York Stock Exchange. American also lost 2 cents and traded at USD$8.

(Reuters)