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Bloomberg
Airlines worldwide raised more than $17 billion in bank loans in March to shore up their finances amid the coronavirus outbreak.
US carriers were the most active, borrowing $12.5 billion, according to data compiled by Bloomberg. Delta Air Lines Inc is the top borrower this month, obtaining $5.6 billion, followed by Singapore Airlines Ltd, which secured a S$4 billion ($2.8 billion) bridge loan, and United Airlines Holdings Inc, which raised $2.5 billion.
The airlines have borrowed new loans or drawn down on existing credit lines that they typically didn’t use before the health crisis. Companies in all industries globally have raised more than $230 billion from commercial banks since early March in response to the virus.
Eleven other airlines, including British Airways, have about $8 billion in combined revolving facilities that they may not yet have drawn, the data show.