Singapore Airlines says will be "patient" after China setback

0 Comments | AFP, January, 2008

SINGAPORE (AFP) — Singapore Airlines (SIA) will be "patient" in its effort to pursue a working relationship with China Eastern Airlines (CEA), SIA said Wednesday, despite suffering a setback in its high-profile bid to secure a stake in the Chinese carrier.

The carrier, which is among the most profitable and highly respected in the industry, again reiterated it will not engage in a price war to acquire a stake in CEA which would give the Singaporean airline a vital foothold into the booming China aviation market.

"We will be patient, recognising this is the first proposal for a transaction involving foreign direct investment in one of the big three airlines in China, so it's new for China and new for shareholders," said SIA spokesman Stephen Forshaw.

"We...