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Tag: Merchant

Lufthansa launches direct flights from Hyderabad to Frankfurt

Furthering its commitment to India and enhancing its presence on the subcontinent, Deutsche Lufthansa AG (Xetra: LHAG) German Airlines is pleased to announce direct services from Hyderabad, capital of the Indian state of Telangana and Frankfurt, Germany.

Once known as the City of Pearls due to its historical significance in the pearl and diamond trade, Hyderabad has long been a hub for merchants and traders from all over the world. Today, Hyderabad is India’s 4th largest city, an emerging technological, aerospace and Indian pharma hub, with a strong presence of major multinational companies including Google & Microsoft as well as Boeing & Airbus. As a growing capital city in a prosperous state, both Hyderabad and the State of Telangana have contributed to the economic success of India today. An investment hub as well as a centre for innovation, Hyderabad combines the old-world charm of its rich history with the dynamism of 21st century India.

As the leading European carrier in India, Lufthansa now operates direct connections from Germany to 5 destinations in the country with Hyderabad-Frankfurt being the latest addition to its global network. As the fastest growing major market for Lufthansa globally, capacity growth in India exceeds pre-pandemic levels.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

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Singapore Airlines Raises S$2 Billion from Sale-and-Lease Back Transactions

Singapore Airlines (SIA) has completed sale-and-leaseback transactions for 11 aircraft, comprising seven Airbus A350-900s and four Boeing 787-10s, raising approximately S$2.0 billion in total.

The transactions were arranged by four different parties, as follows: 

Lease ArrangerAircraft
Aergo Capital Limited1 Airbus A350-900
1 Boeing 787-10
Altavair4 Airbus A350-900s
EastMerchant / Crianza Aviation1 Airbus A350-900
2 Boeing 787-10s
Muzinich and Co. Limited1 Airbus A350-900
1 Boeing 787-10
Total11 

SIA has successfully raised approximately S$15.4 billion in fresh liquidity since 1 April 2020, including these sale-and-leaseback transactions. The amount also includes S$8.8 billion from SIA’s successful rights issue, S$2.1 billion from secured financing, S$2.0 billion via the issuance of convertible bonds and notes, as well as more than S$500 million through new committed lines of credit and a short-term unsecured loan.

SIA continues to have access to more than S$2.1 billion in committed credit lines, along with the option to raise up to S$6.2 billion in additional mandatory convertible bonds before the Annual General Meeting in July 2021.

During this period of high uncertainty, as the airline industry continues to navigate the unprecedented challenges caused by the Covid-19 pandemic, the SIA Group will continue to explore additional means to raise liquidity as necessary.

Mr Goh Choon Phong, Singapore Airlines Chief Executive Officer, said: “The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the Covid-19 pandemic from a position of strength. We will continue to respond nimbly to the evolving marketing conditions, and be ready to capture all possible growth opportunities as we recover from this crisis.”