Fleet Financing

Singapore Airlines Secures S $ 2 Billion In Sale Leaseback | New

Singapore Airlines has raised S $ 2 billion ($ 1.5 billion) in sale and leaseback transactions involving 11 aircraft.

Carrier Star Alliance reveals that four different lessors – such as Dublin-based Aergo Capital and aircraft finance company Altavair – have been involved in the deals, which involve seven Airbus A350-900s and four Boeing 787-10s.

Lessors involved in the SIA sale-leaseback transaction
Lease Arranger Plane

Aergo Capital Limited

1 Airbus A350-900
1 Boeing 787-10


4 Airbus A350-900

EastMarchant / Crianza Aviation

1 Airbus A350-900
2 Boeing 787-10

Muzinich and Co. Limited

1 Airbus A350-900
1 Boeing 787-10

Cirium fleet data shows that the airline has a fleet of 55 A350s and 15,787. SIA has also ordered 12 A350s and 8,787.

The divestitures are expected to bolster SIA’s war chest as it tackles the impact of the long-standing coronavirus pandemic. As of April 1, 2020, the airline, which has been hit hard by the collapse in demand for passenger travel amid the pandemic, has raised around $ 15.4 billion in fresh cash.

This includes a S $ 8.8 billion rights issue, as well as a S $ 2 billion convertible bond and note issue.

Goh Choon Phong, Managing Director of SIA, said, “The additional cash flow from these sale-leaseback transactions strengthens our ability to manage the impact of the Covid-19 pandemic from a position of strength. We will continue to respond nimbly to changing market conditions and stand ready to seize any growth opportunities possible as we recover from the crisis. “

The airline, which is due to release its annual results in May, adds that it “continues to have access” to more than $ 2.1 billion in committed lines of credit and has the option of raising up to 6.2 billion. billion dollars in additional obligations. convertible bonds before July of this year.

SIA Group reduced its operating loss for the three months ended December 31, 2020, as a strong performance in freight helped offset a collapse in passenger revenues. The group was S $ 331 million in the red for the quarter, wiping out operating income of S $ 449 million the year before.

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