Bloomberg.com, 30 Dec 2008, Chan Sue Ling and Seonjin Cha
Dec. 30 (Bloomberg) -- Tiger Airways Pte, the budget carrier partly owned by Singapore Airlines Ltd., canceled plans to start a venture in South Korea, citing the global economic slowdown and regulatory uncertainties.
Tiger and its partner, the Incheon city government, ``concluded that the climate is not conducive to the successful launch of a new airline at this time,'' the carrier said in an e- mailed statement today. The new airline was due to start flying this year.
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Related News:
Singapore, Incheon scrap plans for new budget airline - AFP
Singapore Airlines budget arm drops Korea expansion - Reuters, 30 Dec 08
