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Singapore Airlines invests USD235 million new long-haul LCC's equity capital

1-Sep-2011 9:38 AM

Singapore Airlines invested (31-Aug-2011) USD235 million (SGD283 million) in cash to build the equity capital of its proposed new low-cost long-haul unit. SIA subscribed to 283 million new shares of New Aviation Private Ltd at an issue price of SGD1 per share. After the issue of the new shares, New Aviation will remain a wholly-owned subsidiary of the carrier. [more]