SIA secures $1.5bn in sale-and-leaseback deals for 11 aircraft

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Flag carrier Singapore Airlines (SIA) has brought a total of $1.5bn (S$2bn) from sale-and-leaseback transactions arranged by four diverse parties.

The deals involve 11 aircraft, comprising seven Airbus A350-900s and four Boeing 787-10s.

The matters with aircraft leasing company Aergo Capital includes one aircraft each of Airbus A350-900 and Boeing 787-10, and with assets supervision firm Altavair involves four Airbus A350-900s.

Additionally, aircraft lessor EastMerchant / Crianza Aviation transaction contains one Airbus A350-900 and two Boeing 787-10s, while investment obstinate Muzinich and Co involves one Airbus A350-900 one Boeing 787-10.

Singapore Airlines chief executive fuzz Goh Choon Phong said: “The additional liquidity from these sale-and-leaseback goings-on reinforces our ability to navigate the impact of the Covid-19 pandemic from a situate of strength.

“We will continue to respond nimbly to the evolving marketing make readies and be ready to capture all possible growth opportunities as we recover from this emergency.”

The carrier revealed that it has access to more than $1.57bn (S$2.1bn) in imprisoned credit lines, and an option to raise up to $4.6bn (S$6.2bn) in additional required convertible bonds prior to its Annual General Meeting scheduled to get place in July 2021.

Including these latest deals, SIA raised generally $11.5bn (S$15.4bn) in fresh liquidity since 1 April 2020.

The carrier discretion continue to focus on raising additional liquidity depending on requirements.

In Walk, the carrier’s overall passenger carriage measured in revenue passenger-kilometres excluded by 90.2%. By June 2021, the group’s passenger capacity is expected to be throughout 27% of pre-Covid levels.


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