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Singapore Airlines raised US$6.4 billion from share sales but has spent half in just two months

Singapore Airlines burned through half the S$8.8 billion (US$6.4 billion) it raised through share sales in just two months, underlining how carriers continue to incur costs even as planes are grounded.Of the S$4.4 billion spent since mid-June, S$1.1 billion was used for operating expenses, maturing fuel-hedging trades and ticket refunds from cancelled flights due to the coronavirus pandemic, the airline said on Wednesday. About S$2 billion was used to repay a bridging loan facility, S$900…

Read the original article at South China Morning Post

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