- Nov 16, 2004
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SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Thursday (March 26):. Read more at straitstimes.com.
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]