Key Takeaways
- Transport minister Jeffrey Siow urges Singapore Airlines to grow internationally.
- Limit to domestic air travel means expansion is necessary, he says.
- Singapore Airlines funds investments independently, no capital sought from shareholders.
Singapore Airlines has been advised by Transport Minister Jeffrey Siow to expand its operations overseas. In a response to a parliamentary question, the minister highlighted the necessity for the flag carrier to seek growth beyond Singapore's borders due to the limited number of potential domestic and international flyers.
Siow stated, 'Singapore Airlines must grow overseas to expand further because there is a limit to how many people will fly to or from Singapore.' This advice comes as the company considers investments in other airlines, such as Air India, to diversify its portfolio.
The transport minister emphasized that Singapore Airlines is a listed company and funds its investments through its own balance sheet. He noted, 'Singapore Airlines is a listed company that funds investments from its own balance sheet and has not sought further capital from shareholders.'
Singapore Airlines must grow overseas to expand further because there is a limit to how many people will fly to or from Singapore.
Jeffrey Siow, Transport Minister
