This is in addition to the $6.32 billion it raised for a rights issue.

Singapore Airlines had raised around S$900 million through loans on some of its aircraft. Besides that, it also arranged new lines of credit and a short-term loan of around S$500 million with several banks for further liquidity.

The carrier said in a statement, “During this period of high uncertainty, Singapore Airlines will continue to explore additional means to shore up liquidity as necessary.”

A recent media report suggests that Singapore Airlines will not let go of any of its employees as it weathers the coronavirus crisis.

Singapore Airlines cancelled most of its operations earlier this year to help curb the spread of the novel coronavirus. However, Singapore Airlines and its subsidiary SilkAir have restored some flights this month and are operating at 6 percent of capacity.

A report by the International Air Transport Association (IATA) revealed that the global aviation sector would lose around $314 billion in revenue this year due to the coronavirus pandemic.

In the month of March, the carrier raised around S$19 billion in funding to help the carrier deal with the global lockdown caused by the novel coronavirus, media reports said.

Temasek, which is Singapore Airlines’ biggest shareholder, revealed that it would underwrite the sale of shares and convertible bonds for up to S$15 billion to help the carrier fight the coronavirus.

The additional S$4 billion would be secured in the form of a loan by the carrier from  DBS Bank.

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The deal will focus on flights between Japan and Singapore, Malaysia, Indonesia, India, and Australia.

Both Singapore Airlines and ANA also signed the deal to stay competitive in the busy and crowded Southeast Asian aviation industry.

The deal will focus on providing connectivity to both Singapore Airlines and ANA’s customers. The two carriers will offer joint mileage programmes to its customers and better coordination on check-in baggage and connecting flights.

The two carriers already have a codesharing agreement which allows them to sell seats on the other carrier’s flights. The new deal will allow the carriers to adjust flight timetables to make connections easier and also cut fares to boost demand.

The deal is subject to regulatory approval. Once approved, Singapore Airlines will become the third airline to have a joint venture agreement with ANA. The Japanese carrier has signed similar agreements with United Airlines in 2011 and Lufthansa Group in 2012.

Last year, Singapore Airlines signed an agreement with Malaysia Airlines to expand their existing codeshare routes. According to the agreement, SilkAir, which is owned by Singapore Airlines, will codeshare on 16 domestic locations with Malaysian Airlines, while allowing the former to codeshare on flights to Europe, South Africa, among other destinations.

During the same period, Vistara, in which Singapore Airlines owns a 49 percent stake, also signed a codeshare agreement with the Singapore-based carrier.

In a press release, Vistara said that Singapore Airlines and regional subsidiary SilkAir have signed an agreement with Vistara to expand codesharing to international routes.

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The proposed partnership would include the airlines’ subsidiaries including SilkAir, Scoot and Firefly. Both the carriers told the media that the proposed agreement to share revenue on flights between Singapore and Malaysia and joint marketing activities was after receiving an approval from the competition authorities 

The two airlines plan to establish a joint business agreement where they coordinate routes, offer joint fares, match corporate programmes, and explore opportunities between their frequent flyer programmes. 

Currently, Malaysia Airlines operates 63 weekly flights to Singapore Changi and seven from Kuching. Malaysia Airlines, Singapore Airlines and their subsidiaries have a combined market share of 53.6 percent by capacity. 

Brendan Sobie, CAPA Centre for Aviation’s Singapore-based chief analyst, told the local media that, “It is not clear how deep these will go, [but] the new partnerships will generally enable MAS to compete more effectively in an extremely challenging environment—both in its home market and regionally within the Asia-Pacific.”

Singapore Airlines plans to have codeshare flights from four to 16 Malaysian destinations. That said, Malaysian Airlines will have code on Singapore flights to Europe, South Africa and other destinations.

Singapore Airlines is a Star Alliance member and Malaysian Airlines is in oneworld. The proposal is in line with Malaysia Airlines long-term vision to engage in deep partnerships to strengthen global presence. Both airlines and the countries are expected to mutually benefit from the partnership. 

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The new agreement will enable SIA and SilkAir customers to travel on single-ticket itineraries to these codeshare destinations, which means that their boarding passes and baggage tags will be issued up to their final destination at the first point of check-in.In addition to through check-in service, SIA and SilkAir customers will be offered Scoot’s FlyBagEat privileges – which include checked baggage allowance², complimentary meal and beverage as well as blanket for flights above four hours. SIA and SilkAir customers will also be offered the flexibility to select seats on Scoot flights online through the SIA and SilkAir websites when booking their tickets, for a fee, in accordance with Scoot’s terms and conditions.

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