Singapore Airlines gets $13 bn lifeline from Temasek amid Covid-19 outbreak

State investor Temasek Holdings and others will inject as much as S$19 billion ($13.27 billion) of liquidity into Singapore Airlines (SIA) in the single biggest rescue for an airline slammed by the coronavirus pandemic.

The massive financing plan, which drove SIA shares down as much as 10.5% on Friday, underscores the depth of financial trouble for the global airline industry, with nearly one-third of the world's aircraft already grounded because of the pandemic, according to data provider Cirium.

Many governments worldwide have already stepped in to help airlines amid the virus-induced travel slump, with the United States offering $58 billion in aid.