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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Singapore Airlines Limited    C6L   SG1V61937297

SINGAPORE AIRLINES LIMITED

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Singapore Airlines : to Raise S$15 Billion via Equity, Debt Offering Amid Grounding

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03/26/2020 | 07:44pm EDT

By Ben Otto

Singapore Airlines Ltd. plans to raise 15 billion Singapore dollars ($10.48 billion) via equity and debt to shore up its balance sheet after grounding most of its fleet due to the Covid-19 crisis.

The Singapore-based airline plans to raise up to S$5.3 billion via a rights issue and S$9.7 billion via 10-year convertible bonds, it said in a stock-exchange filing late Thursday.

The airline said its largest shareholder, state investment company Temasek Holdings, will fully underwrite the fundraising.

Singapore Airlines said it has secured a S$4 billion bridge loan facility with DBS Bank to boost liquidity.

The carrier this week grounded 96% of its fleet due to falling travel demand amid regional and global restrictions designed to curb the spread of the coronavirus.

"This is an exceptional time for the SIA Group," Chairman Peter Seah said in a statement. "Passenger demand has fallen precipitously amid an unprecedented closure of borders worldwide."

"The board is confident that this package of new funding will ensure that SIA is equipped with the resources to overcome the current challenges, and be in a position of strength to grow and reinforce our leadership in the aviation sector," he said.

Singapore Airlines had halted trade Thursday pending the announcement. Shares in the airline are down 28% this year.

 

Write to Ben Otto at ben.otto@wsj.com

 

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Financials (SGD)
Sales 2020 16 092 M
EBIT 2020 500 M
Net income 2020 205 M
Debt 2020 7 698 M
Yield 2020 1,96%
P/E ratio 2020 32,8x
P/E ratio 2021 -17,6x
EV / Sales2020 0,89x
EV / Sales2021 1,17x
Capitalization 6 696 M
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Technical analysis trends SINGAPORE AIRLINES LIMITED
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 14
Average target price 6,51  SGD
Last Close Price 5,65  SGD
Spread / Highest target 89,4%
Spread / Average Target 15,2%
Spread / Lowest Target -29,2%
EPS Revisions
Managers
NameTitle
Choon Phong Goh CEO & Non-Independent Executive Director
Lim Huat Seah Independent Non-Executive Chairman
Chin Hwee Ng EVP-Human Resources & Operations
Stephen Barnes Senior Vice President-Finance
Wei Jun Wang Senior Vice President-Information Technology
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