SIA confirms report that it is in talks to buy a stake in South Korean budget carrier Jeju Air

SINGAPORE - National carrier Singapore Airlines (SIA) has confirmed a media report that it has held talks on a possible investment in South Korean budget carrier Jeju Air.

Reuters had reported that a Jeju Air spokesman said on Tuesday that the size of the SIA stake in Jeju and the price had not been decided yet.

Jeju Air is preparing a fourth-quarter initial public offering, aiming to be the first listed Korean low-cost carrier, Reuters said.

In a statement to the Singapore Exchange on Tuesday, SIA said: "Singapore Airlines wishes to confirm that discussions have taken place on a possible equity investment in the airline (Jeju). These discussions may not result in a transaction. Singapore Airlines will make further public announcements as necessary."