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.
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