flyBE
June 30, 2002, 06:35 AM
Singapore Airlines, the second-largest airline on international routes from Australia, has no immediate plans to start an airline in Australia or invest in Virgin Blue.
"Right now we have more important priorities than taking a stake in an airline in Australia or starting one," said Singapore Air's chairman Koh Boon Hwee on Friday. "That doesn't happen to be on our radar screen."
The immediate priority for Asia's third-largest carrier by sales is to improve profitability and offer new flights, seats and services, he said.
The airline has been keen to expand in Australia since the collapse of Ansett deprived it of a partner to offer domestic flights in the Australian market - Singapore held a 25 per cent stake in Ansett's parent, Air New Zealand.
A manager at Tower Asset Management, Albert Hung, said the announcement was good for Australia's remaining domestic flight providers, Qantas and Virgin Blue.
"On the face of it, it definitely would be positive (for them)," he said. "But at the end of the day, they always say they have no intention but underneath the table there may be another plan," he said.
Singapore Air shares rose 2.3 per cent after the announcement.
"Right now we have more important priorities than taking a stake in an airline in Australia or starting one," said Singapore Air's chairman Koh Boon Hwee on Friday. "That doesn't happen to be on our radar screen."
The immediate priority for Asia's third-largest carrier by sales is to improve profitability and offer new flights, seats and services, he said.
The airline has been keen to expand in Australia since the collapse of Ansett deprived it of a partner to offer domestic flights in the Australian market - Singapore held a 25 per cent stake in Ansett's parent, Air New Zealand.
A manager at Tower Asset Management, Albert Hung, said the announcement was good for Australia's remaining domestic flight providers, Qantas and Virgin Blue.
"On the face of it, it definitely would be positive (for them)," he said. "But at the end of the day, they always say they have no intention but underneath the table there may be another plan," he said.
Singapore Air shares rose 2.3 per cent after the announcement.