United Airlines Looking to Raise Over US$1 Billion Through Public Offering

United Airlines is looking to raise more than US$1
billion through a public offering of 39,250,000 shares of its
common stock at a price of US$26.50 per share, subject to market conditions and other factors.

The company has also granted to the underwriters a
30-day option to purchase up to 3,925,000 additional shares.

The proceeds from the offering, which is expected
to close on 24 April 2020. will be used
for “general corporate purposes”.

Morgan Stanley and Barclays are acting as
the underwriters of the offering.


In 2019, before the impact of COVID19 was felt,
United and United Express operated more than 1.7 million flights
carrying more than 162 million customers.

Less than 200,000 people flew with United during
the first two weeks of April 2020, compared to more than 6 million
during the same time in 2019, a 97% drop. The airline has said it
expects to fly fewer people during the entire month of May 2020
than it did on a single day in May 2019.

United operates 791 mainline aircraft and
the airline’s United Express partners operate 581 regional
aircraft.

The airline is also a founding member of Star
Alliance, which provides service to 195 countries via 26 member
airlines.

See also:

United Airlines Expects Demand to Remain Suppressed for Remainder
of 2020 and Likely into 2021
.

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