Shirley Zhao, Bloomberg News Adrian Cheng , Bloomberg
(Bloomberg) The prediction was vintage Jack Ma, as provocative as it was prescient.âThis is the era of the internet,â the Chinese billionaire proclaimed in October 2013, just weeks after his plan to take Alibaba Group Holding Ltd. public in Hong Kong had been scuttled by regulators. âIt no longer belongs to Li Ka-shing.âMaâs dig at the famed Hong Kong tycoon raised plenty of eyebrows at the time, but few would disagree with him now. The past few years have seen a remarkable shift in fortunes between Chinaâs tech-savvy moguls and their old-school Hong Kong counterparts a trend that shows few signs of fading any time soon.
Singapore Airlines Ltd on Wednesday (May 19) posted its second-consecutive annual loss, which widened to a record $3.20 billion (S$4.27 billion), and said it would issue $6.2 billion of convertible bonds to help weather the coronavirus crisis. The loss for the 12 months ended March 31 was worse than the average $3.27 billion forecast by eight analysts, according to Refinitiv,.
Singapore Airlines to issue convertible bonds after record $3.2b annual loss
REUTERS/Louis Nastro
May 20, 2021
Singapore Airlines Ltd on Wednesday posted its second-consecutive annual loss, which widened to a record S$4.27 billion ($3.20 billion), and said it would issue S$6.2 billion of convertible bonds to help weather the coronavirus crisis.
The loss for the 12 months ended March 31 was worse than the average S$3.27 billion forecast by eight analysts, according to Refinitiv, and included S$2 billion of impairments largely on the 45 older planes surplus to requirements.
It was also far bigger than the S$212 million annual loss in the prior financial year, its first ever dip into the red, when only one quarter was affected by the pandemic.
Singapore Airlines posts S$4 27bil annual loss, to issue convertible bonds thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
May 19, 2021
Japan Airlines Co. is planning a yen bond sale next month, people familiar with the matter said, in what would be its first debt sale since March last year as its yield premiums fall.
The Tokyo-based carrier has hired banks for an offering of about ¥10 billion ($92 million) of five-year notes, said the people, who asked not be identified because the discussions are private. A Japan Airlines spokesperson declined to comment.
The yield premium on JAL’s 2023 bonds widened more than 50 basis points to 104 basis points in May last year as the COVID-19 pandemic put the brakes on international travel, but the spread has decreased 25 basis points since then as vaccine rollouts spark expectations of a gradual recovery in tourism, Bloomberg-compiled data show.