Singapore Airlines (SIA1) (SINGY) has raised $600 million via its second US dollar bond issue and has strengthened liquidity as the Omicron variant continues to create uncertainty in air travel demand.
The airline will use it for aircraft purchases and aircraft related payments and general corporate or working capital purposes, including refinancing of existing borrowings of the Company.
According to Reuters report, the airline was aiming to raise between $500 to $750 million.
A year ago, Singapore Airlines (SIA1) (SINGY) raised $500 million through bond issue.
Since April 2021, the airline has raised a total of $16.1 billion in fresh liquidity, sufficient to weather the challenges posed by the COVID-19 pandemic.