Delta Air Lines (NYSE: DAL) has increased the size of a planned debt offering to $9 billion, up from $6.5 billion, due to strong demand for the new debt, Bloomberg reported today. That would be the industry's largest debt deal on record, a clear sign that markets remain open to airlines in need of additional funds to survive the coronavirus crisis. Delta said Monday it intends to sell bonds and enter into a new credit facility backed by its SkyMiles frequent flyer program, seeking to raise $6.5 billion in private funds instead of going to the U.S. Treasury for loans authorized under the CARES Act. The industry is scrambling to raise cash to ride out a slowdown in demand due to the pandemic. Image source: Delta Air Lines. In a filing related to the bond sale, Delta said it expects third-quarter total available seats to be down 60% versus the third quarter of last year, with international capacity down 80% and domestic down 50%. As a result of operating fewer flights, Delta said it has parked about 40% of its mainline fleet. The tough business climate has not dampened interest in the bonds. According to Bloomberg, Delta will raise $9 billion at yields of up to 4.875%. The report said that the airline decided to boost the amount it was borrowing after investors placed $16 billion worth of orders for the bonds and about $10 billion for the loans. Delta's rivals United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) earlier this summer said they would use frequent flyer programs to raise cash. The $9 billion offering would surpass the $6.8 billion United raised in June after pledging its frequent flyer program as collateral. 10 stocks we like better than Delta Air LinesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Delta Air Lines wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Lou Whiteman owns shares of Delta Air Lines. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy.Source