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Bloomberg reported on 21 August that SIA has burned through half of the S$8.8 billion it raised through share sales in just two months despite its planes are grounded amid the COVID-19 outbreak.
Of the S$4.4 billion spent since mid-June, SIA reportedly had used S$1.1 billion towards the funding of operating expenses, settlement of maturing fuel hedging trades and ticket refunds following the cancellation of flights due to the pandemic.
As the aviation industry continues to be hit hard by the pandemic, SIA Group announced on 10 September that it had to cut 4,300 positions and slashed about 2,400 staff across its airlines.
Of the S$4.4 billion spent since mid-June, SIA reportedly had used S$1.1 billion towards the funding of operating expenses, settlement of maturing fuel hedging trades and ticket refunds following the cancellation of flights due to the pandemic.
As the aviation industry continues to be hit hard by the pandemic, SIA Group announced on 10 September that it had to cut 4,300 positions and slashed about 2,400 staff across its airlines.
