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Singapore Airlines raises another SGD750 million from secured financing

Singapore Airlines (SIA) has successfully raised an additional SGD750 million through long term loans secured on some of its Aisbus A350-900 and Boeing 787-10 aircraft. 

In total, the national carrier has raised SGD1.65 billion from secured financing since the start of financial year 2020/2021.

Singapore Airlines plane taking off. Photo courtesy: unsplash
Singapore Airlines plane taking off. Photo courtesy: unsplash

The total liquidity raised during this period stands at approximately SGD11 billion. This comprises SGD8.8 billion from SIA's successful rights issue, SGD1.65 billion from secure financing, and more than SGD500 billion from new committed lines of credit and a short-term unsecured loan from financial institutions. 

Separately, all existing commited lines of credit that were due to mature during the course of 2020 have been renewed until 2021 or later. Together with the new committed lines of credit, this ensures continued access to more than SGD2.1 billion in committed liquity. 

"During this period of high uncertainty, SIA will continue to explore additional means to shore up liquidity as necessary," the airline said. 

CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indians Diaspora across Singapore, US, UK and UAE. Connected to India covers developments around NRIs. Cover arts, political, sports, finance, entrepreneurship, business, movies, dramas, entertainment and other stories for and about Indians living abroad.