Singapore Airlines (SIA) has announced the completion of sale-and-leaseback transactions for 11 aircraft for a total of $2 billion.

According to a news release dated May 3, the aircraft comprises seven Airbus A350-900s and four Boeing 787-10s.

The transactions were arranged with four different parties - Aergo Capital, Altavair, EastMerchant and Crianza Aviation, as well as Muzinich and Co.

SEE:Singapore Airlines trials pre-departure Covid-19 tests to revive travel

SIA states that it has raised $15.4 billion in fresh liquidity since April 1, including the $2 billion from the latest sale-and-leaseback transactions. Out of the remaining amount, $8.8 billion came from the rights issue, $2.1 billion from secured financing, $2 billion from the issuance of convertible bonds and notes, and $500 million from new committed lines of credit and short-term unsecured loan.

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Goh Choon Pong, CEO of SIA, says that the additional liquidity from the sale-and-leaseback transactions reinforces SIA’s ability to navigate the impact of the pandemic. “We will continue to respond nimbly to the evolving market conditions, and be ready to capture all possible growth opportunities as we recover from this crisis,” he says.

Shares in SIA closed 7 cents or 1.37% lower at $5.06 on April 30.