Singapore Airlines has secured a 13 billion dollar lifeline.

It's the single biggest financing package announced by any airline since the global pandemic began.

Almost three quarters of the money comes from the sale of shares and bonds underwritten by Singapore state fund Temasek.

The rest is a loan from Singapore's biggest bank, DBS Group.

It comes after the airline cut capacity by 96% and grounded almost all its planes.

And it's more money than that secured by some larger carriers.

Late Thursday (March 26) American Airlines said it was eligible for $12 billion in U.S. government aid.

That's part of the total $58 billion dollar loan and grant package that Washington has offered its carriers.

Payouts under that deal could begin within 10 days.

Any light at the end of the tunnel remains distant though.

New data Friday showed passenger traffic at major airport hubs in the Asia-Pacific down 80% on the year in the second week of March.

Meanwhile China has ordered drastic cuts in international flights in a bid to stop importing infections.

Video Transcript

- It's the single biggest financing package announced by any airline since the global pandemic began. Almost 3/4 of the money comes from the sale of shares and bonds underwritten by Singapore state fund Temasek. The rest is a loan from Singapore's biggest bank, DBS Group. It comes after the airline cut capacity by 96% and grounded almost all its planes, and it's more money than that secured by some larger carriers.

Late Thursday, American Airlines said it was eligible for $12 billion in US government aid. That's part of the total $58 billion loan and grant package that Washington has offered its carriers. Payouts under that deal could begin within 10 days.

Any light at the end of the tunnel remains distant though. New data Friday showed passenger traffic at major airports hubs in the Asia-Pacific down 80% on the year in the second week of March. Meanwhile, China has ordered drastic cuts in international flights in a bid to stop importing infections.