zack14

Singapore Airlines Ltd on Thursday reported its first-ever annual loss, citing poor fuel hedging bets and the collapse in demand driven by the coronavirus pandemic, and said the timing of any recovery was uncertain. The airline, a bellwether for premium travel in Asia, swung to a S$212 million ($149.14 million) net loss in the financial year ended March 31, down from a S$683 million profit a year earlier, in line with guidance to investors provided last week.

https://finance.yahoo.com/news/singa...095000032.html

shuigao

Financial year ended 31 Mar 2020. So that means just 2mths of covid-19 was enough to drop annual profit by almost a billion dollars compared to FY 2018/19 ...

WindowSeatFlyer

Singapore Airlines secures $7.2bn in liquidity

Singapore Airlines (SQ, Singapore Changi) has raised a total of SGD10.2 billion Singapore dollars (USD7.3 billion) in liquidity through a recent rights issue plus a mix of secured and unsecured credit facilities, putting the carrier on "a steady footing as it tackles the challenges posed by the global Covid-19 outbreak," it said in a statement on June 8.

It said it had raised SGD900 million (USD648 million) through long-term loans secured on some of its A350-900 and B787-10 aircraft and had simultaneously arranged new lines of credit and a short-term loan with "several banks" for further liquidity of more than SGD500 million (USD360 million).

These add to SGD8.8 billion (USD6.3 billion), which, as previously reported, it raised in April from a renounceable rights issue.

https://www.ch-aviation.com/portal/n...n-in-liquidity