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Singapore Airlines Ltd said on Monday that it had secured about US$1 billion (S$1.4 billion) in credit facilities, in addition to the US$6.32 billion it recently raised from a rights issue, to help it weather the Covid-19 pandemic.
Global airlines have taken a huge blow as curbs imposed to stop the spread of the coronavirus led to a plunge in travel demand, leading to a liquidity crisis at firms.
Singapore Airlines’ total financing is among the biggest raised by any carrier amid the global health crisis.
Singapore Airlines said it had raised $900 million through loans on some of its aircraft.
It had also arranged new lines of credit and a short-term loan with several banks for further liquidity of more than $500 million.
“During this period of high uncertainty, SIA will continue to explore additional means to shore up liquidity as necessary,” the company said in a statement.
On June 5, the company raised about $8.8 billion through a rights issue, which was backed by existing shareholder Temasek Holdings [TEM.UL].
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