SIA has used up 80% of S$8.8b raised from rights issue

Singapore

SINGAPORE Airlines (SIA) has used approximately S$7.1 billion of the S$8.8 billion raised from a rights issue in June, it said in a filing to the Singapore Exchange on Monday.

Between Oct 14 and Dec 13, the flag carrier spent a further S$900 million of the gross proceeds from the rights issue. Of this amount, S$500 million was used to fund ongoing operating expenses, S$200 million went towards refunding tickets sold on flights which have been cancelled in view of continuing border controls and travel restrictions, and S$200 million was applied towards debt servicing.