Singapore Airlines stake offer for China Eastern expires
11 Aug 2008
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Singapore: Singapore Airlines (SIA) said Sunday its offer to buy a stake in China Eastern Airlines (CEA) expired on 9 August and that it will explore other ways to develop the relationships.
"Although the agreements have expired, Singapore Airlines will explore other means of developing the relationships," the carrier said in a statement.
In Februaray, SIA and Temasek, Singapore's state-linked investment firm, failed to carry through a move which would have given them a 24-per cent stake in Shanghai-based CEA for $923 million.
SIA said it continued to be optimistic about the prospects for China's airline industry.
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