Singapore Air to Set Up Low-Fare Long-Haul Carrier - CNBC: "Singapore Airlines, the world's second-most valuable listed airline, set out plans to enter the long-haul budget carrier market by setting up a new subsidiary expected to compete with AirAsia X.
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Singapore Airlines plans to enter the long-haul budget carrier market. The move by its new CEO Goh Choon Phong marks a major reversal from his predecessor's strategy.
The premium carrier faces competition from other players in Asia and the Middle East that cater to high-end passengers as well as fast-expanding budget airlines in Asia.
Wednesday's move by Singapore Airlines' [SIAL.SI 14.14 0.02 (+0.14%) ] new Chief Executive Officer Goh Choon Phong marks a major reversal from his predecessor's strategy.
'This is driven by the changing landscape in the industry. If you look at what's happening (in Malaysia), AirAsia X has really made leaps and bounds in terms of their operations,' an aviation analyst at Standard & Poor's, Shukor Yusof, said."
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