Company Briefs: Singapore Airlines

Singapore Airlines

Singapore Airlines will be investing more than $50 million in a major revamp of its SilverKris and KrisFlyer Gold Lounges at Changi Airport Terminal 3, the national carrier said yesterday.

The redevelopment project will see an overall 30 per cent increase in space and total customer capacity. Renovations will begin next month and are expected to be completed by mid-2021, with customers having access to temporary lounges during this period.

Construction will be done over four phases and the lounges will be renovated in sections, starting with the Business Class Lounge.

That will be followed by the First Class Lounge, The Private Room and, lastly, the KrisFlyer Gold Lounge.

The Business Class Lounge will be expanded and will feature four distinct zones catering to travellers with different needs. It will have a full-service bar-cum-breakfast station, productivity pods for work and a rest area with chaise lounges.

The KrisFlyer Gold Lounge will double in capacity and will have dedicated working spaces, as well as larger seating and dining areas.


EDBI

Planet, a United States-based satellite imaging company that operates the world's largest fleet of earth observation satellites, has bagged an undisclosed investment from EDBI, the investment arm of Singapore's Economic Development Board, for its Series D round.

The investment - EDBI's first in space technology - brings Planet's total funds raised to over US$400 million (S$542 million). EDBI is Planet's first Singapore-based investor, and the funds will be used for the firm's Asia expansion and for growing its sales, marketing and product team, co-founder and chief strategy officer Robbie Schingler told The Business Times.

Other backers of Planet include Google, the International Finance Corporation, and American venture firms DFJ and Data Collective.

The earth observation data and services industry is poised to grow to US$15 billion by 2026, said EDBI. Planet serves more than 30,000 users and 400 customers in over 40 countries. Its satellite-imaging and in-house analytics services provide actionable insights for customers across both government and commercial industries.

The firm is in talks with several Singapore government agencies and institutions for potential applications of its technology, supported by EDBI.

A version of this article appeared in the print edition of The Straits Times on July 05, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe