Singapore Airlines is injecting an additional S$400 million of capital into its budget long-haul unit Scoot.
This was announced in a stock exchange filing on Friday.
SIA said it has subscribed for an additional 400,000,000 fully-paid ordinary shares in Scoot at S$1.00 each.
This additional investment follows a review of Scoot's capital structure and the funding it needs for the acquisition of new planes.
Scoot is buying 20 new Boeing 787 Dreamliner aircraft to facilitate its ongoing expansion in the region.
The first of these planes will arrive in November.
Six of the new aircraft are expected to replace Scoot's existing Boeing 777 fleet by the middle of next year.
SOURCE
No comments:
Post a Comment