SIA Cargo taps IBS Software for its digital operations
SIA recently raised S$850 million via a convertible bond issue, with the five-year bonds carrying a competitive coupon of 1.625 percent.
November 18, 2020
By PLA Editor
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Singapore Airlines (SIA) will deploy IBS Software’s SaaS-based cargo management solution, iCargo, to bring its global cargo operations onto a single digital cargo platform to improve operational insight across its entire network, a press release confirmed
The implementation will see SIA transitioning from its existing air cargo systems to iCargo to support its cargo business units, which include sales, import and export operations, air mail handling and revenue accounting. This will allow SIA to better manage cargo capacity, gain enhanced visibility of shipment yields and revenues, optimise network performance and seamlessly collaborate with partners’ systems, as well as drive efficiencies and improve operational resilience.
“The Covid-19 pandemic has challenged the air cargo industry and greatly accelerated the need for change, especially in digitalisation. We look forward to working closely with IBS Software to leverage the many strengths of iCargo to improve our digital capabilities and allow us to deliver a differentiated customer-centric quality of service, while staying compliant and up-to-date with global industry standards and initiatives,” said Mr Chin Yau Seng, Senior Vice President Cargo at Singapore Airlines.
The airline recently raised S$850 million via a convertible bond issue, and the five-year bonds will carry a competitive coupon of 1.625 percent, convertible into ordinary shares at a price of S$5.743. Proceeds from the bonds will be used to fund operating and capital expenditure, as well as debt servicing, SIA stated.