United Airlines and Aeromexico Report Q3 Results
United Airlines reported net income of $473mn in Q3 helped by a boost from $1.13bn in federal payroll aid, an improvement from its $1.8bn in losses in 3Q2020, but lower than its $1.02bn in 3Q2019. Q3 revenues stood at $7.75bn, down 32% from the same quarter in 2019....
United Raises $4 Billion via Two-Trancher
United Airlines raised $4bn via a two-trancher: $2bn via a 5Y bond at a yield of 4.375%, ~30bp inside initial guidance of 4.625%-4.75% $2bn via a 8Y bond at a yield of 4.625%, ~31.25bp inside initial guidance of 4.875%-5% The bonds have expected ratings of Ba1/BB-....
United Airlines Lining Up $9bn Debt Sale
United Airlines announced it will raise $9bn through a combination of loans and bonds. Part of the borrowing will go towards paying-off $520mn that the airline borrowed from the federal government program last year as airlines suffered due to the pandemic. Proceeds...
