(MENAFN) Singapore Airlines (SIA) said it is in talks to buy a stake in South Korean budget carrier Jeju Air, a deal which would expand its low-cost portfolio, The Peninsula Qatar reported.
Singapore Airlines wishes to confirm that discussions have taken place on a possible equity investment in the airline, the carrier said in a filing with the Singapore Exchange.
The airline said last month its third-quarter net profit more than multiplied compared to the same quarter of last year, reaching USD146 million boosted by one-off gains.
"These discussions may not result in a transaction," the airlines said, adding that both parties began the talks at the end of last year and were at the "final stage of negotiation for the acquisition price".
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