Singapore Airlines (SIA) said today it is in talks to buy a stake in South Korean budget carrier Jeju Air, a deal that would expand its low-cost portfolio.
"Singapore Airlines wishes to confirm that discussions have taken place on a possible equity investment in the airline," it said in a filing with the Singapore Exchange.
"These discussions may not result in a transaction. Singapore Airlines will make further public announcements as necessary."
It said both parties began the talks at the end of last year and were at the "final stage of negotiation for the acquisition price".
The report added that Aekyung Group currently holds 86.23 per cent of Jeju Air.
SIA is a majority stake-holder in Singapore-based low-cost carrier Tiger Airways and has a wholly owned long-haul budget subsidiary called Scoot.
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