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SIA raises USD1.5 billion in sale-and-leaseback deal
Singapore Airlines has raised some much needed funds in sale-and-leaseback deals for 11 aircraft. It will get $1.5 billion to bolster its liquidity. It reached agreement with four parties over seven Airbus A350-900s and four Boeing 787-10s.
The airline says it has access to $2.1 billion of undrawn credit lines and has an option to raise up to $6.2 billion in convertible bonds.
SIA, which has no domestic air market, reported a 99.6%% drop in passenger traffic in April, compared to last year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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