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Singapore Airlines sells and re-leases planes

Singapore Airlines sells and re-leases planes

Singapore Airlines sells and re-leases planes

Singapore Airlines has raised around S $ 2 billion (€ 1.24 billion) through sale and leaseback transactions involving eleven Airbus A350s and Boeing 787 Dreamliner.

Based at Singapore Changi Airport, the Singaporean national carrier announced four separate Airbus A350-900 and Boeing 787-10 sale and leaseback transactions with the following leasing companies:

  • Aergo Capital Limited : 1 Airbus A350-900, 1 Boeing 787-10
  • Altavair : 4 Airbus A350-900s
  • EastMerchant / Crianza Aviation : 1 Airbus A350-900, 2 Boeing 787-10s
  • Muzinich and Co. Limited : 1 Airbus A350-900, 1 Boeing 787-10

Since April 1, 2020, SIA has succeeded in raising « nearly S $ 15.4 billion in new liquidity, including these new sale-leaseback transactions, » said a statement (9.6 billion euros in total. This amount also includes $ 8.8 billion (SGD) from the issuance of new securities, $ 2.1 billion from guaranteed financing, $ 2.0 billion through the issuance of convertible bonds and of notes, as well as more than $ 500 million obtained through new lines of credit and an unsecured term loan.

The group continues to have access to « more than $ 2.1 billion in committed lines of credit, as well as the ability to raise up to $ 6.2 billion in additional mandatory convertible bonds prior to the meeting. Annual General Meeting of July 2021 ”. And to add: « During this period of great uncertainty, as the airline industry continues to face unprecedented challenges caused by the Covid-19 pandemic, the SIA group will continue to explore additional means to increase its liquidity if necessary ”.

Goh Choon Phong, Chairman and CEO of Singapore Airlines, said: “The additional liquidity generated by these sale and leaseback operations strengthens our ability to manage the impact of the Covid-19 pandemic from a position of strength. We will continue to respond with agility to changing market conditions and we will be ready to seize any growth opportunities possible as we recover from this crisis.  »

The Star Alliance company has planned for the months of May to July 2021 to operate flights to the following countries, subject to travel restrictions linked to the health crisis: Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Thailand and Vietnam (in Southeast Asia), China, Hong Kong, Japan, South Korea and Taiwan (in North Asia), Bangladesh, Maldives, Nepal, South Africa, Sri Lanka and United Arab Emirates (in Asia West and Africa), Australia and New Zealand (Pacific).

In Europe, Singapore Airlines planes will land in France (Paris-CDG every day currently), Denmark, Germany, Spain, Italy, the Netherlands, the United Kingdom, Russia, Switzerland and Turkey. Only the USA will be served in North America.

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