Singapore Airlines has spent $7.1 billion of the $8.8 billion raised in rights issue

SIA has used about $7.1b of the $8.8b raised from a rights issue in June, it said in a filing to the Singapore Exchange on Monday. Between Oct 14 and Dec 13, the flag carrier spent a further $900m of the gross proceeds from the rights issue. Of this amount, $500m was used to fund ongoing operating expenses, $200m went towards refunding tickets sold on flights which have been cancelled and $200m was applied towards debt servicing. Its last update on the use of proceeds from the rights issue was made in mid-October, when SIA said it had spent $1.8b over about two months. The amount was used for ongoing operating expenses, ticket refunds and debt servicing.<br/>