Singapore Airlines raises $1.5 billion from airplane sale-and-leaseback deals

Singapore Airlines Ltd said on Monday it had raised about S$2b ($1.50b) through sale-and-leaseback deals for 11 of its planes to help bolster liquidity as it grapples with the pandemic-related plunge in travel. The airline said it would continue to explore other ways to raise liquidity after reaching deals with four parties over seven Airbus SE A350-900s and four Boeing 787-10s. "The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the COCVID-19 pandemic from a position of strength," Singapore Airlines CE Goh Choon Phong said. Singapore Airlines said it had access to more than S$2.1b of undrawn credit lines and an option to raise up to S$6.2b in convertible bonds before its annual meeting in July 2021. The airline lacks a domestic market and has been hit hard by the virtual halt to international passenger travel because of border controls and quarantine measures.<br/>