The airline will acquire 70% stake in DFASS SATS Pte. Ltd.
The Singapore Airlines (SIA) partnered DFASS and SATS to establish a travel-related retail joint venture in Singapore under the KrisShop and Scootalogue brand names.
In line with this, SIA under a Points of Agreement plans to acquire 70% of DFASS SATS Pte. Ltd. which is equally owned by DFASS (Singapore) and SATS subsidiary SATS Asia-Pacific Star Pte. Ltd. (APS). The DFASS SATS currently operates KrisShop for SIA and its regional arm SilkAir, as well as the Scootalogue programme for SIA’s subsidiary Scoot.
Under the terms of agreement, the DFASS (Singapore) and APS will each hold 15% of DFASS SATS.
Meanwhile, the joint venture will offer travelers with in-flight duty-free and duty-paid goods and pre-order services with on-board and ground-based deliveries, initially under the existing KrisShop and Scootalogue in-flight sales brands.
“The joint venture will bring together strengths of all three partners – the SIA Group’s customer base of more than 30 million travelers per year and our growing KrisFlyer frequent-flyer programme, as well as SATS’ airport and logistics expertise across Asia and DFASS’ extensive supplier network and retail experience,” said Goh Choon Phong, CEO of SIA, in a press release.
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