Singapore Airlines says offer for China Eastern expired

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SINGAPORE – Singapore Airlines the world’s biggest airline by market value, said on Sunday its offer to buy a stake in China Eastern expired on Aug 9 and that it will now seek other ways to build ties with the mainland carrier.

“Although the agreements have expired, Singapore Airlines will explore other means of developing the relationships,” the airline, 55-percent owned by Singapore’s sovereign fund Temasek Holdings, said in a statement.

Singapore Airlines, which with Temasek failed in February failed to take a combined 24 percent stake in China Eastern for $920 million, said it continues to be optimistic about the prospects for China’s airline industry, the world’s fastest growing.