News
Singapore Airlines adds to liquidity with US$1.5 billion in sale and leaseback agreements
May 3rd 2021
Singapore Airlines (SIA) said today it had raised S$2 billion (US$1.5 billion) in fresh capital through sale and leaseback contracts covering 11 aircraft. Read More » The transactions were with four firms – Aergo Capital Limited, Altavair, EastMerchant/Crianza Aviation, Muzinich and Co. Limited – and involved seven A350-900s and four 787-10s, SIA said in a regulatory filing to the Singapore Exchange (SGX). "The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the COVID-19 pandemic from a position of strength," SIA CEO, Goh Choon Phong, said. "We will continue to respond nimbly to the evolving marketing conditions and be ready to capture all possible growth opportunities as we recover from this crisis." SIA said the sale and leaseback transactions announced today brought to S$15.4 billion in liquidity the company had raised since April 2020 to navigate the pandemic. SIA will report its fiscal 2021 full-year results on May 19.
