The_King Posted September 16, 2021 Share Posted September 16, 2021 SINGAPORE Airlines (SIA) SIA: C6L +1.23% on Thursday said that it has exhausted the S$8.8 billion in gross proceeds raised from its rights issue in June last year, with the last S$0.6 billion having been used for aircraft and aircraft-related payments between July 1 and Sept 1. In a filing to the Singapore Exchange, the flag carrier said that the net proceeds of S$6.2 billion from the issuance of additional mandatory convertible bonds (MCBs) in June this year had yet to be utilised as of Thursday. SIA said it has also raised S$21.6 billion in fresh liquidity since April 1, 2020. The group added that in addition to the cash on hand, it continues to retain access to S$2.1 billion of committed lines of credit that are currently undrawn. As far as the 2020 rights issue goes, SIA spent the proceeds of S$8.8 billion between June 8, 2020 and Sept 1, 2021. SIA had used S$2.0 billion of the proceeds for the repayment of the bridge loan from DBS, which was set up in April 2020 to provide the liquidity required by SIA for the completion of the rights issue in 2020. Other uses of the proceeds included S$2.2 billion for operating expenses during the period, S$1.4 billion for ticket refunds, S$1.4 billion for aircraft and aircraft-related payments, as well as S$1.8 billion for debt service. SIA said the use of proceeds for the whole amount raised in the rights issue is in accordance with the intended use of proceeds. The company added that it will remain prudent and proactive in managing its liquidity as international air travel continues to be affected by the Covid-19 pandemic. While international air travel continues to be affected by the pandemic, the company will remain prudent Shares of SIA closed on Thursday at S$4.92, up 1.2 per cent or S$0.06. https://www.businesstimes.com.sg/transport/singapore-airlines-uses-up-last-s600-million-of-2020-rights-issue 1 Link to comment Share on other sites More sharing options...
aaur4man Posted September 16, 2021 Share Posted September 16, 2021 LOOL thats fast Link to comment Share on other sites More sharing options...
Bigbird Posted September 16, 2021 Share Posted September 16, 2021 A few months ago, Sia says they got lots of money! 2 Link to comment Share on other sites More sharing options...
socrates469bc Posted September 16, 2021 Share Posted September 16, 2021 cash burn rate like burning kim chua. Link to comment Share on other sites More sharing options...
aaur4man Posted September 16, 2021 Share Posted September 16, 2021 really jiak liao bee 2 Link to comment Share on other sites More sharing options...
Bigbird Posted September 16, 2021 Share Posted September 16, 2021 Sia always used to boost that they have 70+ fleets of AC and youngest fleets in the world! 2 Link to comment Share on other sites More sharing options...
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