AMR, the parent of American Airlines, has struck financing accords with GE and Citigroup that will free $2.9bn in cash to help offset a slump in air-travel demand, reports the FT. Shares of the carrier jumped more than 23% on Thursday’s news, which comes as it vies with rival Delta Air Lines for a deal with Japan Airlines. Both US airlines have offered to invest in debt-laden JAL as part of a transpacific venture. Reuters reports that American may team up with BA and Qantas to make a joint alliance offer to JAL.

This entry was posted by Gwen Robinson on Friday, September 18th, 2009 at 4:58 and is filed under Capital markets. Tagged with american airlines, amr, ba, ge, JAL, qantas. Edit this entry.