Singapore Airlines raises over USD 540m by securing a350s, 787s
Singapore Airlines announced that it raised USD 542 million worth of long-term loans simply by securing some Airbus A good350-900s and Boeing 787-10s in a move to even more shore up the airline’s liquidity posture and tackle the existing crisis following a coronavirus pandemic.
Singapore Airlines has raised a complete of USD 1.19 billion in secured financing because the start of the financial year 2020/2021 starting April 2020.
The carrier has raised a complete of USD 7.96 billion in liquidity because the start of the financial year 2020/2021. USD 6.36 billion originated from the airline’s successful rights issue, USD 1.19 billion came from secured financing, and USD 361 million originated from new credit lines and a short-term unsecured loan.
Singapore Airlines as well renewed its credit lines that were because of mature found in 2020. With these brand-new committed lines of credit, the airline can continue steadily to gain access to USD 1.52 billion in committed liquidity.
Additionally, up to July 2021, Singapore Airlines retains the choice to improve USD 4.48 billion in convertible bonds, if necessary. Despite having all of this, the airline is going to explore methods to shore up liquidity. With the current crisis highlighting the unpredictability of passenger revenue, airlines want to secure as much cash as possible.
Singapore Airlines is focusing on renewing its fleet with the most recent era of aircraft. This consists of the Airbus A350-900 and Boeing 787-10s. The A350s are doing many long-haul and regional operations, including Milan, Tokyo, Bangkok, Seattle, and others as the Boeing 787-10s fly off to regional destinations, incorporating Bali, New Delhi, Hong Kong, and Shanghai, amongst others.
