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Singapore Airlines raises $1.5 bln from airplane sale-and-leaseback deals

Reuters2021-05-03

May 3 (Reuters) - Singapore Airlines Ltd said on Monday it had raised about S$2 billion ($1.50 billion) through sale-and-leaseback deals for 11 of its planes to help bolster liquidity as it grapples with the pandemic-related plunge in travel.

The airline said it would continue to explore other ways to raise liquidity after reaching deals with four parties over seven Airbus SE A350-900s and four Boeing Co 787-10s.

Rivals such as Cathay Pacific Airways Ltd and Qantas Airways Ltd have done similar deals during the pandemic.

"The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the COCVID-19 pandemic from a position of strength," Singapore Airlines Chief Executive Goh Choon Phong said in a statement.

Singapore Airlines said it had access to more than S$2.1 billion of undrawn credit lines and an option to raise up to S$6.2 billion in convertible bonds before its annual meeting in July 2021.

The airline lacks a domestic market and has been hit hard by the virtual halt to international passenger travel because of border controls and quarantine measures.

Singapore Airlines reported a 99.6% decline in passenger numbers in April relative to the prior year.

($1 = 1.3294 Singapore dollars)

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  • Kelvinyoon26
    ·2021-05-03
    Like and comment 
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  • HoldTheDoor
    ·2021-05-03
    Sell in may
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  • zzcloud88zz
    ·2021-05-03
    Jialat
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  • sunnylimbs
    ·2021-05-03
    Sure die
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    • KOOLF
      Okie
      2021-05-03
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    • awry
      please  drop a like thank you.
      2021-05-03
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  • koakakook
    ·2021-05-03
    Uhoh
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  • Meowmeowhuat
    ·2021-05-03
    [Sigh] [Sigh] 
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  • 木吉蒂
    ·2021-05-03
    Who's the counter party with so much cash [疑問] 
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  • HLTan
    ·2021-05-03
    Oh no ... 
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  • Glenn101
    ·2021-05-03
    Like and comment
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  • Kenneth89
    ·2021-05-03
    Like n comment pls
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    • 木吉蒂
      done
      2021-05-03
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    • schsch
      like and comment pls ‌[Miser] ‌
      2021-05-03
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  • KopiLim
    ·2021-05-03
    For like and comment 
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