Delta, American Air in Talks to Borrow Billions Amid Pandemic
Travelers wearing face masks wait at a Delta Air Lines Inc. customer service desk at Charles de Gaulle Airport, in Roissy, France, on March 16.
Photographer: Adrienne Surprenant/BloombergThis article is for subscribers only.
Delta Air Lines Inc. and American Airlines Group Inc. are in talks to arrange billions of dollars in new financing amid a broad rush for cash by airlines, casinos and other companies with revenue hit by the coronavirus pandemic, according to people familiar with the matter.
Delta is in discussions with banks, led by agent JPMorgan Chase & Co., to raise between $2 billion and $4 billion with a 364-day secured term-loan facility, the people said, asking not to be identified because the talks are private. American also is negotiating a multibillion-dollar 364-day secured term-loan facility.