SIA Secures $750 Million in Airplane Loans

Nathaniel Punay

, Singapore

It has now secured $1.65 billion from its secured funding since the start of fiscal 2020.

Singapore Airlines (SIA) has taken out US$750 million in long-term loans for some of its Airbus A350-900 and Boeing 787-10 aircraft, an announcement revealed.

Following the closing of these deals, SIA has now secured $1.65 billion of its secured funding since the beginning of fiscal 2020, with total liquidity raised over the same period of $11 billion. It also includes the $8.8 billion from the rights issue and $500 million from the newly committed lines of credit and a short-term unsecured loan from financial institutions.

In addition, all existing committed lines of credit that were due in 2020 have been deferred to 2021 or later. SIA said this ensures they have access to over $2.1 billion in committed liquidity.

SIA also reserves the option to raise up to $6.2 billion in additional mandatory convertible notes through July 2021, which would provide further liquidity if needed.

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