Starlux secures $123.7 million syndicated loan

Starlux Airlines has secured a $123.7 million syndicated loan agreement with 10 local banks, which will support the purchase of 18 Airbus A350 passenger jets. This cash infusion will give a significant boost to the airlines’ plans of expanding operations on the US and Asian routes. One of the important reasons behind acquiring the A350 was to launch a long-haul flight to the US. This plan was derailed due to pandemic restrictions. Now, the airline plans to start Los Angeles flights soon after 2023, according to an airline spokesperson. The airline said that the syndicated loan was 52% oversubscribed by the banks