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Singapore Airlines secures $13 billion to survive coronavirus and grow after
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Singapore Airlines secures $13 billion to survive coronavirus and grow after
SINGAPORE/SYDNEY (Reuters) - Singapore Airlines Ltd said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. As many carriers around the world look for cash to weather the crisis, Singapore Airlines' majority shareholder, state-fund Temasek Holdings [TEM.UL], said it would underwrite the sale of shares and convertible bonds for up to S$15 billion. Singapore's biggest bank DBS Group Holdings Ltd provided a S$4 billion loan.
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