SIA secures $750m in loans on aircrafts

It now secures $1.65b from its secured financing since the start of FY2020.

Singapore Airlines (SIA) has raised $750m in long-term loans on some of its Airbus A350-900 and Boeing 787-10 aircraft, an announcement revealed.

Upon completion of these deals, SIA now secures $1.65b from its secured financing since the start of FY2020, with the total liquidity raised over the same period amounting to $11b. It also includes the $8.8b from rights issue and $500m from the new committed lines of credit and a short-term unsecured loan from financial institutions.

Further, all existing committed lines of credit that were due to mature in 2020 have been moved to 2021 or later. SIA said that this ensures that they have access to over $2.1b in committed liquidity.

SIA also retains the option to raise up to $6.2b in additional mandatory convertible bonds until July 2021 that would provide further liquidity if deemed necessary.

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