Boeing and Singapore Airlines today formally announced a deal for 20 777-9s and 19 787-10s, during a ceremony at the White House.
The order, previously attributed to an unidentified customer, is worth $13.8 billion at current list prices. The value of this sales transaction will sustain thousands of U.S. suppliers and more than 70,000 direct and indirect U.S. jobs during the delivery period of this contract. The airline also has options for 12 additional aircraft, six of each aircraft type.
The signing ceremony, witnessed by US President Donald Trump and Prime Minister of Singapore Lee Hsien Loong, included Singapore Airlines’ CEO Goh Choon Phong and Boeing Commercial Airplanes’ President & CEO Kevin McAllister. Peter Seah, Singapore Airlines’ Chairman, and Dinesh Keskar, senior vice president, Asia Pacific & India Sales, Boeing Commercial Airplanes and other members of the airline and Boeing also were in attendance.
Read more about Singapore Airlines not to go for M&A, Vistara investments to continue on Business Standard. Fundraising primarily to shore up liquidity of the company
Singapore Airlines Ltd on Wednesday (May 19) posted its second-consecutive annual loss, which widened to a record $3.20 billion (S$4.27 billion), and said it would issue $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 $3.27 billion forecast by eight analysts, according to Refinitiv,.
Following massive losses for its 2020/21 financial year, Singapore Airlines (SIA) has moved to further shore up its cash position with a S$6.2 billion ($4.6 billion) convertible bond issue.
Singapore Airlines to issue convertible bonds after record $3.2b annual loss
REUTERS/Louis Nastro
May 20, 2021
Singapore Airlines Ltd on Wednesday posted its second-consecutive annual loss, which widened to a record S$4.27 billion ($3.20 billion), 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.
It was also far bigger than the S$212 million annual loss in the prior financial year, its first ever dip into the red, when only one quarter was affected by the pandemic.