AirlinesSingapore Airlines cuts its monthly expenditure

Singapore Airlines cuts its monthly expenditure

The Aviator Africa Singapore Airlines

Singapore Airlines has reduced its cash burn to about S$100 million (US$75 million) to S$150 million a month, from S$350 million last year, as to survive a drop in travel demand, its chief financial officer said on Thursday, according to Media reports.

Cutting Expenditure may sound reasonably stable to ensure survival of many airlines at current levels if demand conditions stay similar due to the surge of COVID 19 pandemic,” Singapore Airline Chief financial Officer said

On Wednesday the airline posted a record annual loss of S$4.27 billion and said it would issue S$6.2 billion of convertible bonds underwritten by its majority shareholder, state investor Temasek Holdings, to help ride out the coronavirus crisis

Mshana Iddi
Iddi Mshana Journalist - With a Bachelor Degree in Tourism, Iddi has a combined appetite of tourism and aviation. His diverse knowledge and experience of more than 6 years adds an exciting depth to his work. Currently, pursing Commercial Pilot Licence with IR & ME at EACAA Soroti Uganda.

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