The CEOs of Scandinavian Airlines and Singapore Airlines, Rickard Gustafson and Goh Choon Phong, have today signed a joint venture agreement in Singapore. This follows the Memorandum of Understanding that was signed in January and covers routes between Scandinavia and Singapore.
With a signed joint venture agreement, the two Star Alliance carriers can now move forward to plan further business opportunities within the partnership, such as the coordination of flight schedules and joint sales activities, all of which is subject to regulatory approval. Regulatory approval will now be sought from the authorities in Singapore and Europe.
The partnership is expected to lead to growth in existing air services between Singapore and Scandinavia, and, subject to market conditions at the appropriate time, pave the way for a new route between Singapore and Stockholm. Singapore Airlines currently operates three weekly flights between Copenhagen and Singapore in a code-share partnership with SAS.
Rickard Gustafson, President and CEO, SAS: "Singapore Airlines will be a vital part of our Asian strategy and we look forward to jointly explore further growth opportunities in this exciting and important market."