SIA defers $4b spending on Airbus, Boeing planes

Delivery will be delayed upon agreement with the aircraft manufacturers.

Singapore Airlines (SIA) will defer over $4b of capital expenditures on Airbus and Boeing planes after reaching agreements with the aircraft manufacturers to revise aircraft delivery schedules.

The airline has also been able to respond to changes in its projected long-term fleet needs beyond FY2026 with the conversion of 14 Boeing 787-10 aircrafts into 11 additional Boeing 777-9 aircrafts.

SIA Chief Executive Officer Goh Choon Phong noted that the agreement with the manufacturers is a key plank of their strategy to navigate the disruptions caused by the COVID-19 pandemic.

“They allow us to defer capital expenditure and recalibrate the rate at which we add capacity, aligning both with the projected recovery trajectory for international air travel,” he said.