Singapore Air to raise S$850m after travel collapses

Singapore Airlines plans to raise as much as S$850m via the sale of convertible bonds as it seeks to increase liquidity amid a pandemic that’s wiped out travel demand. The funds will be used for operating cash flow, to service debt and for capital expenditure, Singapore’s flagship carrier said in an exchange filing Thursday. The pricing of the convertible notes is expected shortly. Singapore Airlines said Monday that it planned to raise additional liquidity in the debt capital markets and through a sales and lease-back deal after reporting its biggest quarterly net loss. The airline has already raised S$11.3b through a rights offering and loans, and is cutting 20% of its workforce. <br/>