American Airlines approved the sale of an additional $ 1 billion in stock, the airline said in a motion filed on Friday to secure cash as a base Covid-19 continues to squeeze demand for travel / p>

American approved a $ 1 billion stock sale in October and sold $ 8824 million at $ 1287 a share. Under the new agreement, it would sell up to $ 1 billion

American’s decision follows a sharp price rally earlier this week after it was featured on the popular WallStreetBets Reddit forum, the airline declined to comment on whether its stock movement was factored into its decision on the carrier is the on most short-circuited US. Airline

American stocks fell more than 5% to $ 1717 on Friday, but ended the week up 85%. Other airline stocks fell this week

American and Southwest Airlines each reported record losses for 2020 U on ThursdayS. Airlines lost around $ 34 billion last year

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World News – USA – American Airlines plans to sell another $ 1 billion shares after a major rally