AMR Corporation (AMR) Up in Pre-Market, Raised $2.9 billion

AMR Corporation (NYSE: AMR) the world’s second-largest carrier, said it raised $2.9 billion in cash and aircraft financing and will increase flying at four U.S. hubs to focus on the most-profitable parts of its network. AMR Corp. said the extra funding includes $1 billion in cash from an advance sale of frequent flyer miles.

The stock rallied 22.86% to $9.02 in pre-market trading.