SA Minister Suggesting SIA Should Invest SAA

Mon Aug 05, 2002 12:46 pm

A press from Singapore today reporting that Singapore Airlines needs to reconsidering to take a stake in South African Airways, together with Star Alliance member Lufthansa for a joint bid.

South African Finance Minister Trevor A Manuel told the Business Times that SIA should really consider to take a stake of SAA. Manuel made these comments on Friday, during his visit in Singapore.

2 years ago, SIA/Lufthansa withdrawl their bid for SAA stake. Swissair took 20% stake, around S$400million.

But the Government ended up buying back the stake for less than S$40million.

Manuel also suggesting that SIA should consider Johannesburg as a hub to fly to other African Nations.
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RE: SA Minister Suggesting SIA Should Invest SAA

Mon Aug 05, 2002 4:29 pm

Singapore Airlines has been urged to invest in South African Airways, South Africa's finance minister, Trevor A Manuel suggested.

When asked to comment, Singapore Airlines remains unsurprisingly tight lipped, "Our strategic goal of growing into a global group of airline and airline related companies remains unchanged, but we do not comment on specific opportunities unless we have something to announce."

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What demand is there to fly Intra-Africa to JNB and then onto Singapore and possibly Asia? None / hardly any to make such a venture profitable I would say.
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