SIA has used up 80% of S$8.8b raised from rights issue
Carrier has option to issue more mandatory convertible bonds to raise up to S$6.2b
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
