Aviation
SIA to hold EGM for shareholder approval on rights issue
SIA to hold EGM for shareholder approval on rights issue
It aims to collect $3.5b in aggregate principal amount of mandatory convertible bonds.
SIA updates policy on COVID-hit flights
Customers can use travel credits to book new flights until 30 June.
SGX-ST approves listing of SIA's proposed $8.8b rights issue
About $3.7b will be used to fund expenses incurred amidst reduced operation.
Aviation stocks crashed 38% in 2020 YTD
SIA, SIAEC, ST Engg, and SATS averaged 26% declines in March alone.
Changi Airport Terminal 2 suspends operations for 18 months
Airlines will be relocated to the remaining terminals.
Daily Briefing: SIA implements no-pay leave days for pilots; Waste management firm Blue Planet bags $36m
And Expara Ventures launches accelerator programme for COVID-19 solutions.
SIA cuts 96% of capacity until end-April
It saw a fall in passenger revenue as demand for air travel collapsed.
SIA's losses could amount to over $1b in FY2021
The drop in oil prices will not save them as well.
Daily Briefing: Singapore's aviation hub status left in limbo amidst COVID-19; Cruise passenger traffic down 52%
And marketing tech company AnyMind Group has acquired India’s POKKT Mobile Ads.
SIA halves capacity
They also stated that further capacity cuts are underway.
Scoot to offer voucher refunds in full
This will be available for bookings made on or before 15 March.
SIA Group's passenger load factor down 12.1 ppt in February
Its passenger carriage slid by 17% YoY.
SIA to waive rebooking fees
This will be applied to tickets issued on or before 15 March.
Passenger movements in Changi down 32.8% in February
Traffic to major travel markets declined across the board including China (-92%).
SIA announces more flight cancellations
Some flight cancellations are extended until July.
SIA needs to be mindful of capacity cuts with EU obligation
It has been cutting capacity across the globe due to drop in passenger volumes.
SIA expands list of flight suspensions
Affected flights include South Korea, Japan, Taiwan and more parts of Southeast Asia.
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