Singapore Airlines has secured S$10 billion in fresh liquidity from its recent rights issue, as well as a mix of secured and unsecured credit facilities.
SIA secured S$8.8 billion in liquidity through the successful completion of the rights issue on 5 June 2020. A further S$900 million was raised through long term loans secured on some of SIA’s Airbus A350-900 and Boeing 787-10 aircraft.
Further fresh liquidity amounting to more than S$500 million has come from new committed lines of credit and a short term unsecured loan with many banks.
Separately, all existing committed lines of credit that were due to mature during the course of 2020 have been renewed until 2021 or later, thus ensuring continued access to more than S$1.7 billion in liquidity.
During this period of high uncertainty, SIA will continue to explore additional means to shore up liquidity as necessary. For the period up to July 2021, the Company also retains the option to raise up to a further S$6.2 billion in additional mandatory convertible bonds, which will provide additional liquidity if necessary.
