Singapore Airlines planes parked on the tarmac at Changi International Airport in Singapore. Singapore Airlines announced on March 23 that it was cutting 96% of its capacity till the end of April due to the Covid-19 (coronavirus) outbreak. - AFP
BENGALURU/SINGAPORE: Singapore Airlines Ltd said on Monday that it had secured about $1 billion in credit facilities, in addition to the S$8.8 billion ($6.32 billion) it recently raised from a rights issue, to help it weather the COVID-19 pandemic.
Global airlines have taken a huge blow as curbs imposed to stop the spread of the coronavirus led to a plunge in travel demand, leading to a liquidity crisis at firms. Singapore Airlines' total financing is among the biggest raised by any carrier amid the global health crisis.
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