Singapore Airlines raises S$2 billion from airplane sale-and-leaseback deals Toggle share menu
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03 May 2021 11:53AM (Updated:
03 May 2021 12:00PM) Share this content
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SINGAPORE: Singapore Airlines Ltd said on Monday (May 3) it had raised about S$2 billion 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 Co 787-10s.
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Rivals such as Cathay Pacific Airways Ltd and Qantas Airways Ltd have done similar deals during the pandemic.
Singapore Airlines planes sit on the tarmac at Changi Airport. (Reuters photo)
SINGAPORE: Singapore Airlines Ltd said on Monday it had raised about S$2 billion ($1.5 billion) 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 Co 787-10s.
Rivals such as Cathay Pacific Airways Ltd and Qantas Airways Ltd have done similar deals during the pandemic. The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the Covid-19 pandemic from a position of strength, Singapore Airlines Chief Executive Goh Choon Phong said in a statement.
Business class was that silent and spacious sanctuary for the well-heeled, at least until the pandemic destroyed global aviation. But as flights creep back, this once-exclusive haven is being invaded, by the masses.
Flush with cash and a record number of air miles after a year on the ground, leisure travelers are splurging on premium seats for their first trips back. They re not just after the plated food, champagne and little cosmetics that typically come with the higher fares.
Rather, they re trying to minimize the risk of catching COVID-19 in the cheek-to-cheek jostle of coach.
Win back revenues
The popularity of these lucrative seats - especially among passengers who d usually shoehorn into economy - is an unexpected boon for airlines weathering a crisis that s forecast to have cost them a staggering $174 billion in losses by the end of 2021. As vaccinations roll out at pace in the Middle East, the UK and the US, free-spending vacationers are emerging as a new market to explo
By ANGUS WHITLEY | Bloomberg | Published: April 28, 2021 Business class was that silent and spacious sanctuary for the well-heeled, at least until the pandemic destroyed global aviation. But as flights creep back, this once-exclusive haven is being invaded, by the masses. Flush with cash and a record number of air miles after a year on the ground, leisure travelers are splurging on premium seats for their first trips back. They’re not just after the plated food, champagne and little cosmetics that typically come with the higher fares. Rather, they’re trying to minimize the risk of catching COVID in the cheek-to-cheek jostle of coach.
Business Class Opens to Masses as Affordable Covid Refuge Bloomberg 2 hrs ago Angus Whitley
(Bloomberg) Business class was that silent and spacious sanctuary for the well-heeled, at least until the pandemic destroyed global aviation. But as flights creep back, this once-exclusive haven is being invaded, by the masses.
Flush with cash and a record number of air miles after a year on the ground, leisure travelers are splurging on premium seats for their first trips back. They’re not just after the plated food, champagne and little cosmetics that typically come with the higher fares. Rather, they’re trying to minimize the risk of catching Covid in the cheek-to-cheek jostle of coach.