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

SINGAPORE AIRLINES LIMITED

(C6L)
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Singapore Airlines gets $540 mln in funding to manage coronavirus crisis

07/23/2020 | 06:39am EST

July 23 (Reuters) - Singapore Airlines Ltd said on Thursday it had secured S$750 million ($541.87 million) of funding against some of its Airbus and Boeing aircraft to shore up liquidity amid plummeting demand due to the novel coronavirus.

Coronavirus travel curbs have led to the grounding of fleets worldwide and airlines are facing a massive liquidity crisis and tapping multiple avenues to raise cash.

In March, Australia's Qantas Airways secured financing against its aircraft fleet, while Hong Kong's Cathay Pacific sold six Boeing 777-300ERs to BOC Aviation Ltd .

Singapore Airlines has raised about S$11 billion this year via a combination of rights issue, secured financing, credit lines and short-term loans, it said in a statement.

Its total financing is among the largest amounts raised by any carrier during the global health crisis.

With the new committed lines of credit, the carrier has ensured it gets continued access to more than S$2.1 billion in committed liquidity, it said.

The airline, considered a bellwether for premium travel in Asia, posted its first ever annual loss for the year that ended March 31, and later warned it would report a material operating loss in the first-quarter of fiscal 2021. ($1 = 1.3841 Singapore dollars) (Reporting by Anushka Trivedi in Bengaluru)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -2.52% 87.73 Real-time Quote.-31.02%
BOC AVIATION LIMITED -2.63% 68.6 End-of-day quote.-13.44%
CATHAY PACIFIC AIRWAYS LIMITED 0.41% 7.4 End-of-day quote.-35.76%
QANTAS AIRWAYS LIMITED -2.30% 5.53 End-of-day quote.-22.22%
SINGAPORE AIRLINES LIMITED -1.53% 4.51 End-of-day quote.-50.11%
THE BOEING COMPANY -2.67% 210.71 Delayed Quote.-33.54%
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More news
Financials
Sales 2021 3 876 M 2 891 M 2 891 M
Net income 2021 -4 304 M -3 210 M -3 210 M
Net Debt 2021 11 438 M 8 531 M 8 531 M
P/E ratio 2021 -2,84x
Yield 2021 0,13%
Capitalization 12 868 M 9 599 M 9 598 M
EV / Sales 2021 6,27x
EV / Sales 2022 2,28x
Nbr of Employees 28 160
Free-Float 99,0%
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Technical analysis trends SINGAPORE AIRLINES LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 3,91 SGD
Last Close Price 4,34 SGD
Spread / Highest target 17,5%
Spread / Average Target -9,83%
Spread / Lowest Target -28,6%
EPS Revisions
Managers
NameTitle
Choon Phong Goh CEO & Non-Independent Executive Director
Lim Huat Seah Independent Non-Executive Chairman
Swee Wah Mak Executive Vice President-Operations
Kai Ping Tan Executive Vice President-Finance & Strategy
Wei Jun Wang Senior Vice President-Information Technology
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1st jan.Capitalization (M$)
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