Singapore Airlines scraps talks on buying stake in Jeju Air

Singapore Airlines says it has scrapped talks on buying a stake in South Korean budget airline Jeju Air.
Singapore Airlines says it has scrapped talks on buying a stake in South Korean budget airline Jeju Air.PHOTO: ST FILE

SINGAPORE (REUTERS) - Singapore Airlines Ltd said on Thursday it had scrapped talks with South Korea's Jeju Air on buying a stake in the budget airline.

Singapore Airlines did not give a reason for its decision.

In March, it said it was in talks with Jeju Air over a possible deal, which would have been the the Singapore carrier's first foray into North Asia, where rising demand from Chinese passengers is fuelling growth.

(This story is developing)