Air Canada raises $750 million to boost liquidity
from American Shipper
Air Canada announced it is raising more than $750 million in working capital through the sale of CA$500 million ($357.5 million) of stock and a private placement of $400 million in bonds. The development came the same day as the International Air Transport Association warned that airlines could eventually fail because of debt loads they are taking on to support operations. The coronavirus pandemic has caused drastic declines in airline earnings and cash as people stay home to prevent spreading the disease.
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