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 Covid-19 pandemic from a position of strength, ” SIA chief executive Goh Choon Phong said in a statement.
SIA said it had access to more than S$2.1bil of undrawn credit lines and an option to raise up to S$6.2bil 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.Article type: metered