Singapore Airlines taps last S$600M of its 2020 rights issue funds for aircraft payments

A Singapore Airlines Scoot plane on the tarmac at Changi Airport in October 2018.A Singapore Airlines' Scoot plane at Changi Airport

Singapore Airlines said Thursday the remaining S$600 million of the gross proceeds of the S$8.8 billion it raised in a 2020 rights issue has been applied toward aircraft and aircraft-related payments over the 1 July to 1 September period.

In June, Singapore Airlines completed another rights issue, raising S$6.2 billion in additional liquidity, with the net proceeds of that fundraising yet to be utilised, the Singapore flag carrier said in a filing to SGX.

The carrier has raised a total of S$21.6 billion in fresh liquidity since 1 April 2020, and has access to S$2.1 billion of committed lines of credit which are currently undrawn, the filing said.

“While international air travel continues to be affected by the pandemic, the company will remain prudent and proactive in managing its liquidity,” Singapore Airlines said.