The revised amount of S$4.6761 takes into account the final dividend per share of S$0.30

 

[SINGAPORE] National carrier Singapore Airlines (SIA) : C6L -0.31% will adjust the conversion price of its 1.625 per cent convertible bonds due 2025 to S$4.6761, from S$4.8945, the company said on Monday (Aug 11).

 

The adjustment takes into account the final dividend of S$0.30 per share that SIA announced on May 15, 2025, for the full year ended Mar 31. The adjusted conversion prices will take effect from Aug 12. 

 

The company issued S$850 million of the 1.625 per cent convertible bonds &ndash which can be converted into ordinary shares of SIA &ndash in 2020 to strengthen its liquidity position amid the challenges posed by the Covid-19 pandemic. 

" Maybank analyst Eric Ong on Monday noted that Air India losses dragged on SIA' s bottom line in spite of lower fuel prices supporting operating performance. We also cut our FY2026 to FY2028 (estimates for) core earnings per share by 25 to 29 per cent to factor in rising non-fuel costs and weaker cargo business. We think the share price has run ahead of its fundamentals and downgrade SIA."

DBS Group Research' s Sum said that Air India will likely remain a " near-term drag" for SIA and expects SIA to be able to manage costs well, on the back of lower prices for jet fuel, which usually covers 20 to 30 percent of operating costs.