ATLANTA/NEW YORK, Sept 28 (Reuters) - AMR Corp's American Airlines said on Monday that its share sale generated $400 million, while US Airways Group Inc raised $137.3 million in net proceeds from its sale after fees and costs.
Fort Worth, Texas-based American issued more than 48 million common shares, while Tempe, Arizona-based US Airways issued more than 29 million common shares in the offering.
The proceeds would be used for general corporate purposes, US Airways said. Citigroup, the underwriter of US Airways's offering, exercised its over-allotment option to buy an additional 2.7 million shares.
Some U.S. 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 $4.94 on the New York Stock Exchange. American also lost 2 cents and traded at $8.
(Reporting by Karen Jacobs and Deepa Seetharaman; Editing by Andre Grenon, Bernard Orr) Keywords: USAIRWAYS/ (karen.jacobs@thomsonreuters.com; +1 404 493-3656; Reuters Messaging: karen.jacobs.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Fort Worth, Texas-based American issued more than 48 million common shares, while Tempe, Arizona-based US Airways issued more than 29 million common shares in the offering.
The proceeds would be used for general corporate purposes, US Airways said. Citigroup, the underwriter of US Airways's offering, exercised its over-allotment option to buy an additional 2.7 million shares.
Some U.S. 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 $4.94 on the New York Stock Exchange. American also lost 2 cents and traded at $8.
(Reporting by Karen Jacobs and Deepa Seetharaman; Editing by Andre Grenon, Bernard Orr) Keywords: USAIRWAYS/ (karen.jacobs@thomsonreuters.com; +1 404 493-3656; Reuters Messaging: karen.jacobs.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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