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.
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