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Latest News
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Monday, 21 September 2009
American Airlines' parent AMR has raised US$2.9 billion of new financing, including US$1 billion from advanced sales of air miles to Citigroup bank and a further US$1.6 billion from a sale and leaseback arrangement with General Electric's aviation division for planes the US carrier has already ordered. The Citigroup purchase is for air miles in advance, which Citigroup will use to reward its customers when they use the bank's credit cards.
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