News
Regulator clears Singapore Airlines-Garuda Indonesia joint venture
July 8th 2024
Singapore's competition regulator has announced conditional approval of a Garuda Indonesia-Singapore Airlines (SIA) joint venture. Read More » The Competition and Consumer Commission of Singapore (CCCS) issued the clearance after both carriers agreed to maintain seat capacity on Singapore-Jakarta and Singapore-Surabaya and appoint an independent auditor to monitor compliance and provide an annual report of the joint venture. “Airline alliances are an important part of the aviation industry, bringing significant benefits to the Singapore economy and overseas markets,” CCCS CEO, Alvin Koh, said. “We look forward to working closely with our businesses and stakeholders to deliver positive, prompt and impactful outcomes that matter.” SIA CEO, Goh Choon Phong, said the two airlines had broadened their code share as part of their existing partnership. “With the CCCS’s approval, we are poised to deepen our collaboration across a wider scope of commercial activities,” Goh said. “Along with ongoing work to strengthen the links between our frequent flyer membership programmes, this will provide our customers with even more options and enhanced value.” Garuda president, Irfan Setiaputra, said: “The joint venture initiative we are preparing today has been one of the strategies [adopted] to ensure extensive value creation for our loyal customers.”
