SIA Raises US$1.5 Billion via Aircraft Deal, to Keep Exploring Other Ways of Boosting Liquidity
By P.R. Venkat
Singapore Airlines Ltd. will continue to explore additional
means of raising liquidity to weather the fallout from the Covid-19
pandemic that crimped demand for business and leisure travel
The airline said Monday that it has raised 2.0 billion Singapore
dollars (US$1.5 billion) via the sale-and-lease back of 11
aircraft, including seven Airbus A350-900s and four Boeing
SIA that it continues to have access to more than S$2.1 billion
in committed credit lines, along with an option to raise up to
S$6.2 billion in additional mandatory convertible bonds before its
annual general meeting in July.
Like carriers around the world, Singapore Airlines has been hit
hard by the pandemic and suffered heavy losses as demand for air
travel dried up. For the third quarter ended December, the company
posted a net loss of S$142 million compared with profit of S$315
million a year earlier.
"The additional liquidity from the sale-and-lease back
transactions reinforces our ability to navigate the impact of the
Covid-19 pandemic from a position of strength," Chief Executive Goh
Choon Phong said.
Write to P.R. Venkat at email@example.com
(END) Dow Jones Newswires
May 02, 2021 20:58 ET (00:58 GMT)
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