Singapore Airlines Calls Trading Halt pending an announcement | Australian Frequent Flyer
Australian Frequent Flyer

Welcome to Australia's leading independent Frequent Flyer and Travel Resource since 1998!
Our site contains tons of information that will improve your travel experience.

Joining AFF is fast, simple & absolutely free - register now and take immediate advantage of these great BENEFITS.

Once registered, this box will disappear. And you will see fewer advertisements :)

Singapore Airlines Calls Trading Halt pending an announcement

serfty

Veteran Member
Moderator
Joined
Nov 16, 2004
Messages
41,646
Qantas
Platinum
Virgin
Platinum
Flights
My Map
--------------------------------------
Singapore Airlines (SIA). SIA called for a rare trading halt pending an announcement on Thursday morning, days after it said it would ground almost its entire fleet and seek more financing as it grapples with the coronavirus pandemic.

The airline did not provide details to the stock exchange on the topic of the planned announcement.

Singapore’s finance minister is set to unveil new support measures for workers, businesses and households in response to the pandemic later on Thursday.

On Tuesday, the flag carrier said its pilots will be placed on compulsory no-pay leave of between four and seven days a month starting April 1, as the airline and its unions work together to save jobs.

Just a day before, SIA announced that it was cutting 96 per cent of its planned capacity originally scheduled up to end-April given the further tightening of border controls around the world over the last week.



It is also exploring ways to increase liquidity and reduce capital expenditure and operating costs amid the ongoing Covid-19 outbreak, it said in a statement on Monday.


SIA shares closed 10.4 per cent or $0.61 higher at $6.50 on Wednesday.[/hr][/hr]
 

HS-TQE

Member
Joined
Apr 5, 2018
Messages
250
As previously posted on another thread, my guess is a government funded bailout for SQ, being the owners and the company considered an "essential" service in Singapore.

Either way, SQ will survive the ongoing C-19 crisis, even if they emerge as a smaller company than they were a few weeks ago.
 

ozstamps

Active Member
Joined
Aug 30, 2003
Messages
823
Virgin
Platinum
SINGAPORE (Reuters) -- Singapore Airlines, or SIA, is tapping existing investors for up to 15 billion Singapore dollars ($10.48 billion) through the sale of shares and convertible bonds to offset the shock to its business from the coronavirus outbreak.

The fund raising is being underwritten by the airline's biggest investor, state-owned Temasek Holdings, which owns about 55% of the group.


As I predicted a week or two back, SQ is going nowhere.
 
Joined
Nov 18, 2011
Messages
7,142
Qantas
LT Silver
Flights
My Map

serfty

Veteran Member
Moderator
Joined
Nov 16, 2004
Messages
41,646
Qantas
Platinum
Virgin
Platinum
Flights
My Map
SINGAPORE AIRLINES LIMITED - ANNOUNCEMENT PROPOSED - RENOUNCEABLE RIGHTS ISSUE
INTRODUCTION The directors (the “Directors”) of Singapore Airlines Limited (the “Company”) wish to announce that the Company proposes to undertake a renounceable rights issue (the “Rights Issue”) of new ordinary shares in the capital of the Company (the “Rights Shares”) and mandatory convertible bonds (the “Rights MCBs”) to Entitled Shareholders (as defined herein) to raise gross proceeds of approximately S$8.8 billion.
 

Community Statistics

Threads
85,376
Messages
2,011,808
Members
52,576
Latest member
Fwh
Top