SIA aims to raise $15 billion to combat Covid-19 fallout

Singapore Airlines flight crew arriving at Changi Airport Terminal 2 from London on March 24, 2020. - ST

SINGAPORE (The Straits Times/ANN): Singapore Airlines (SIA) aims to raise up to S$15 billion amid major financial challenges due to the Covid-19 pandemic which has hit the global air travel sector badly.

This will be done by issuing new shares to current shareholders to raise about $5.3 billion and issuing mandatory convertible bonds to raise up to $9.7 billion, the airline said on Thursday (March 26).