Singapore Air posts record B100bn annual loss, to issue convertible bonds
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published : 19 May 2021 at 19:42
1 FILE PHOTO: Cabin crew speak to participants during a tour of the Singapore Airlines Training Centre in Singapore Nov 21, 2020, as part of a series of initiatives to re-engage customers who have not been able to travel due to the coronavirus. (Reuters)
Singapore Airlines Ltd on Wednesday posted its second-consecutive annual loss, which widened to a record S$4.27 billion (100.6 billion baht), 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.
The Hong Kong Tourism Board (HKTB) held its annual Tourism Update event online on 18 May, discussing tourism trends and sharing details of the HKTB’s latest .
Singapore Airlines Posts Record $3 2 Billion Annual Loss, to Issue Convertible Bonds theepochtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theepochtimes.com Daily Mail and Mail on Sunday newspapers.
HKTB Steps Up Various Promotions to Drive Tourism Recovery marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
By Greg Waldron2021-05-18T05:16:00+01:00
A resurgence of the coronavirus pandemic in the Asia-Pacific, as well as tougher quarantine rules at home, appear at odds with the Singapore Airlines Group’s steady ratcheting up of capacity.
Bad news has come thick and fast in Singapore. Hours after the perennially-delayed Hong Kong travel bubble was again pushed back this time owing to a sharp rise in Covid-19 cases in Singapore the World Economic Forum cancelled its Singapore meeting in August. The event had been anticipated as a stage for the Southeast Asian country to showcase its ability to conduct major events safely.