SINGAPORE (June 16): Singapore Airlines (SIA) announced that it will be using $2.2 billion out of the gross proceeds of the $8.8 billion raised from the rights issue, to repay the $2 billion bridge loan facility with DBS Bank.
Another $200 million will go towards the funding of operating expenses.
On June 11, Singapore Airlines and SilkAir announced that both airlines will be commencing flights to more destinations covered by their passenger network, as well as increasing the frequencies on some existing services in June and July.
Passengers flying from selected cities in Australia and New Zealand to any destination in the SIA Group network will be able to transit through Changi Airport from June 11.
As at 9.01am, shares in Singapore Airlines are changing hands 10 cents higher, or 2.5% up, at $4.12.
See also:
- SIA secures $10 bil from rights issue and secured and unsecured credit facilities to 'tackle challenges' posed by Covid-19
- SIA rights shares fully subscribed but shareholders snub MCBs
- Right issue price 'in line with market precedents', says SIA
- SIA plunges into 4Q loss of $732.4 mil as air travel collapses
- Singapore Airlines to raise $15 bil via rights issue of new shares, mandatory convertible bonds
- Temasek to lead $15 bil rescue of SIA
