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.
