Last Updated Sep 18, 2009 10:40 AM EDT
Here's exactly what they've raised:
- $1 billion in cash from the advance sale of AAdvantage miles to their credit card partner Citibank
- $280 million in cash from GECAS as a loan secured by previously unencumbered aircraft
- $1.6 billion in sale-leaseback transactions for new 737s that are currently on order (also with GECAS)
American has jumped into the fray like everyone else needing cash. The advance mile sale is always a smart move, but they also have enough unencumbered assets to make the loan a good idea as well. Now it's just a matter of waiting for traffic to start picking up so they can start adding to their cash balance the traditional way . . . profit.