aviation

SATS, the gateway services and food solutions provider, reported a net loss of $6.3 million in 4Q20, compared to the earnings of $49.9 million reported in 4Q19.

The coronavirus outbreak is unexpectedly providing an opportunity to Singapore Airlines Ltd. to grab a share of the lucrative Indian market held by rivals Emirates Airline and Etihad Airways PJSC through a local affiliate.

Singapore Airlines (SIA) announced that it will be using $2.2 billion out of the gross proceeds of the $8.8 billion raised from the rights issue, to repay the $2 billion bridge loan facility with DBS Bank.

Cathay Pacific Airways Ltd. became the latest global carrier to seek a lifeline in the aftermath of Covid-19 travel restrictions, outlining a plan to raise HK$39 billion (S$7.0 billion) from the Hong Kong government and shareholders.

The company last month said it had made an unaudited loss of HK$4.5 billion

The move comes as Cathay contends with a slump in traffic brought on by the coronavirus outbreak and the travel restrictions that ensued.

SIA secured $8.8 billion through the competition of the rights issue on Friday (June 5). It has raised a further $900 million through long-term loans secured on some of its Airbus A350-900 and Boeing 787-10 aircraft.

Singapore Airlines (SIA) has announced on Friday that it expects to report a “material operating loss” for 4QFY19/20, and the full year for FY19/20 when it releases its unaudited financial results on May 14.

On April 15, the director general of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, made two Twitter postings that are cru­cial for the resumption of econom­ic activity. His tweets listed the observance of six condit

SATS says it is now expecting its profits for the quarter to plunge by approximately 60% to 70% compared to last year. This will correspondingly result in a reduction of up to 25% for the group’s full-year results.