Singapore Airlines defers $3 billion of Airbus, Boeing deliveries
Singapore Airlines (SIA1) (SINGY) reached agreements with both Airbus and Boeing on the postponement of aircraft deliveries worth a total of $3 billion (S$4 billion), the airline announced on February 9, 2021. Some aircraft and other assets expenditures between 2021 and 2025 were postponed beyond.
“The agreements with Airbus and Boeing are a key plank of our strategy to navigate the disruptions caused by the Covid-19 pandemic,” said Singapore Airlines Chief Executive Officer Goh Choon Phong. “They allow us to defer capital expenditure and recalibrate the rate at which we add capacity, aligning both with the projected recovery trajectory for international air travel.”
SIA Group reported a $142 million loss in the third quarter of the 20/21 financial year. Passenger carriage grew 44.8% compared to the previous quarter.
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