Etihad Airways

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.

SIA plans to offer a three-for-two rights issue at $3 per share, which is a 53.8% discount off SIA’s last traded price of $6.50. It will also raise up to another $9.7 billion from a 10-year Mandatory Convertible Bonds (MCB).

SINGAPORE (Sept 7): After enjoying a decade of unrivalled growth and earnings stability, the Middle East’s “super-connectors” – Emirates, Etihad Airways and Qatar Airways – have hit some serious turbulence this year.