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Singapore Airlines uses final $0.6 bil of proceeds from rights issue for aircraft and aircraft-related payments

Felicia Tan
Felicia Tan • 1 min read
Singapore Airlines uses final $0.6 bil of proceeds from rights issue for aircraft and aircraft-related payments
The sum is said to be used for aircraft and aircraft-related payments between July 1 and Sept 1.
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Singapore Airlines (SIA) has used the last $0.6 billion of the gross proceeds of $8.8 billion raised from the rights issue in 2020.

The sum is said to be used for aircraft and aircraft-related payments between July 1 and Sept 1.

The net proceeds of $6.2 billion from the issuance of additional mandatory convertible bonds (MCBs) in June 2021, have not been used yet.

Between June 8, 2020, and Sept 1, 2021, the airline spent $2.0 billion of the $8.8 billion to repay the bridge loan from DBS Bank.

During the same period, $2.2 billion was used for operating expenses, while $1.4 billion was used for ticket refunds.

Another $1.8 billion was used for debt service, which included $1.1 billion for the repayment of lines of credit.

Some $0.5 billion was used to redeem SIA’s 10-year fixed rate notes, while $1.4 billion went to aircraft and aircraft-related payments.

Shares in SIA closed 6 cents higher or 1.24% up at $4.92 on Sept 16.

Photo: Bloomberg

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