AMR Nets $294 Million from Stock Sale

AMR Corp., American Airlines parent, said it has netted proceeds of $294 million through the sale of 27.1 million shares of common stock.

“The completion of our equity sale is another example of our continued efforts to strengthen our balance sheet and better position our company to manage through what remains a very challenging industry environment,” said Tom Horton, AMR’s CFO.

AMR also increased cash flow via this week’s sale of asset-management subsidiary American Beacon Advisors for $480 million.