Singapore Airlines has announced that it has managed to raise US$7.2 billion in new equity through the company’s recent rights issue. Along with its new liquidity, the Changi Airport-based national flag carrier of Singapore has built up a mix of secured and unsecured credit facilities. It is hoped this new liquidity will leave the airline
Singapore Airlines announced on Monday morning it will cut 96 per cent of its capacity until the end of April.
Another day of dramatic worldwide travel bans has led to another raft of capacity cuts from the world’s biggest airlines.
Singapore Airlines has cut more flight in the wake of the coronavirus outbreak, with 7 per cent of its schedule from February to the end of May now axed.
Singapore Airlines said on Monday that it is ‘rationalising’ services between Singapore and China with a series of additional flight suspensions announced. The decision comes amid the continuing impact of Coronavirus on travel to Mainland China.
Singapore Airlines has reported passenger growth of 6.5 per cent for the airline group for August. However cargo volumes fell 10.2 per cent.
