SIA defends planned aircraft purchases, expects 'substantial' hedging losses in fuel
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Sharanya Pillai
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Singapore
SINGAPORE Airlines (SIA) is standing by its plans to use a chunk of the proceeds raised from its upcoming S$8.8 billion rights issue to purchase aircraft, the carrier said in a bourse filing on Wednesday, which offered responses to shareholder concerns raised ahead of its extraordinary general meeting (EGM) on Thursday.
One question raised asked why a large proportion of the funds to be raised have been committed to capital expenditure such as aircraft purchases, and whether the carrier can delay the delivery of new aircraft.
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