Singapore Airlines Secures $7.2 Billion in New Liquidity

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Singapore Airlines (SIA) announced that it is more or less ready to go through the challenges created by the pandemic and its impacts, as the company has raised $7.2 billion of liquidity.

The money have been secured through the recent rights issue ($6.3 billion) and through a mix of secured and unsecured credit facilities ($647 million).

Additionally, SIA also arranged new committed lines of credit and a short term unsecured loan with several banks, which provide further fresh liquidity amounting to more than $359 million.

For the period up to July 2021, the airline also retains the option to raise up to a further $4.4 billion in additional mandatory convertible bonds, which will provide additional liquidity if necessary.

“SIA will remain steadfast and agile during this period of great uncertainty, and continue to act nimbly in responding to the evolving market conditions,” said Goh Choon Phong, Chief Executive at Singapore Airlines.