"This transaction will not only tide SIA (Singapore Airlines) over a short term financial liquidity challenge, but will position it for growth beyond the pandemic," Temasek International Chief Executive Dilhan Pillay Sandrasegara said.
SINGAPORE/SYDNEY: Singapore Airlines Ltd said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return.
As many carriers around the world look for cash to weather the crisis, Singapore Airlines' majority shareholder, state-fund Temasek Holdings [TEM.UL], said it would underwrite the sale of shares and convertible bonds for up to S$15 billion. Singapore's biggest bank DBS Group Holdings Ltd provided a S$4 billion loan.
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