Just a reminder - Singapore Airlines gets $13bn lifeline as airlines beg for help

[Bigbird]

Singapore Airlines gets $13bn lifeline as airlines beg for help

27 Mar 2020

Singapore’s state investor Temasek Holdings and others will inject as much as 19 billion Singapore dollars ($13.27bn) into Singapore Airlines (SIA) in the world’s single-biggest rescue of an airline slammed by the coronavirus pandemic.

The enormous financing plan, which drove SIA shares down as much as 10.5 percent on Friday, underscores the depth of financial trouble for the global airline industry, with nearly one-third of the world’s aircraft already grounded because of the pandemic, according to data provider Cirium.

 

Many governments worldwide have already stepped in to help airlines amid the virus-induced travel slump, with the United States offering $58bn in aid. Many carriers have grounded fleets and ordered thousands of workers on unpaid leave to keep afloat.

The 5.3 billion Singapore dollars ($3.72bn) in equity and up to 9.7 billion Singapore dollars ($6.8bn) in convertible notes – bonds that can be converted into equity stakes in the company – of the Singapore Airlines fundraising are being underwritten by Temasek, which owns about 55 percent of the group.

 

The carrier has also obtained a 4 billion SIngapore dollar ($2.8bn) bridge loan facility with the country’s biggest lender, DBS Group Holdings Ltd, to support near-term liquidity requirements.

 

read more

https://www.aljazeera.com/economy/2020/3/27/singapore-airlines-gets-13bn-lifeline-as-airlines-beg-for-help

 

 

[Bigbird]

Last yrs news.

 

Reminder that the money raised is through SGoverment hor!! aka tax payers!

 

@socrates469bc Am i interpreting this correctly????

Edited May 19, 2021 by Bigbird

[socrates469bc]

8 minutes ago, Bigbird said:

Last yrs news.

 

Reminder that the money raised is through SGoverment hor!! aka tax payers!

 

@socrates469bc Am i interpreting this correctly????

 

bird have to understand some basic accounting and legal background first.

 

temasek is a commercial investment firm, much like a fun house except its owner is sgp's mof.

 

so in the end, the taxpayers r on the hook for any liabilities since the owner is mof.

 

now, here comes the interesting part.

 

most of the funds that temasek have available for investments shld be from the dividends of cashcows dbs/capitaland/psa or offloading of assets such as natsteel and powerseraya.

 

but looking at the many investments requiring vast amount of funds, i m really curious as to how temasek is able to pay for all these investments just from the dividends and asset sales.

[Bigbird]

9 minutes ago, socrates469bc said:

 

bird have to understand some basic accounting and legal background first.

 

temasek is a commercial investment firm, much like a fun house except its owner is sgp's mof.

 

so in the end, the taxpayers r on the hook for any liabilities since the owner is mof.

 

now, here comes the interesting part.

 

most of the funds that temasek have available for investments shld be from the dividends of cashcows dbs/capitaland/psa or offloading of assets such as natsteel and powerseraya.

 

but looking at the many investments requiring vast amount of funds, i m really curious as to how temasek is able to pay for all these investments just from the dividends and asset sales.

 

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[Bigbird]

S'pore Airlines thanks Govt for S$870 million support of aviation industry

The SIA Group reported a net loss of S$142 million in the third quarter of 2020/2021.

 

https://mothership.sg/2021/02/sia-thanks-budget-2021/

 

 

See obvious a not????

 

Pump ah pump ah!!1