Singapore Airlines obtains $13 billion rescue package amid coronavirus shock

Singapore Airlines obtains $13 billion rescue package amid coronavirus shock

SINGAPORE: State investor Temasek Holdings and others put together a funding package of up to S$19 billion ($13.27 billion) for Singapore Airlines (SIA) in the single biggest rescue for an airline slammed by the coronavirus pandemic.. Many governments worldwide have already stepped in to help airlines amid the virus-induced travel slump, with the United States offering $58 billion in aid.. The carrier has also obtained a S$4 billion bridge loan facility with the country's biggest lender, DBS Group Holdings Ltd, to support near-term liquidity needs until the airline secures money from the rights issue.. "Under the current dire circumstances, the rights issue is the best tactical move for SIA.. The rights issue will be offered at S$3 per share, a 53.8 percent discount to SIA's last traded price of S$6.5.. On Thursday, the Singapore government announced more than $30 billion in new measures to help businesses and households brace against the pandemic.. Vodafone to offer unlimited data to the vulnerable for free /node/1648351/business-economy.