SIA still best capitalised airline despite $8b spending

Besides $5.3b cash, there are $2.1b in credit lines, $6.2b of convertible bonds to be issued

Singapore Airlines' latest numbers show it used some $400 million over the past two months - translating into a cash burn of $200 million a month. This is a significant improvement from the $350 million a month it burned through between April and Sep
Singapore Airlines' latest numbers show it used some $400 million over the past two months - translating into a cash burn of $200 million a month. This is a significant improvement from the $350 million a month it burned through between April and September.PHOTO: REUTERS

Singapore Airlines (SIA) remains the best capitalised carrier in the world despite spending $8.1 billion since June. Out of the $8.1 billion, SIA spent $1.1 billion on operating costs, ticket refunds and payments on aircraft between mid-December and late last month.

As many of its biggest global rivals struggle to stay aloft, the national airline is sitting on around $5.3 billion in cash.

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A version of this article appeared in the print edition of The Straits Times on March 02, 2021, with the headline 'SIA still best capitalised airline despite $8b spending'. Subscribe