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Singapore Airlines in talks to acquire stake in Jeju Air
(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".
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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