Channel NewsAsia
Updated: 04/15/2014 21:27 | By Channel NewsAsia

Singapore GP says deal with SIA is “win-win” solution

Singapore GP says deal with SIA is “win-win” solution

Singapore GP says deal with SIA is “win-win” solution

SINGAPORE: Previous partnerships between other carriers and Formula One were a catalyst for Singapore Grand Prix to initiate the deal making Singapore Airlines (SIA) title sponsor for the country's night race.

Singapore Grand Prix said it presents a “win-win” solution for both event and sponsor. Observers Channel NewsAsia spoke with agreed, saying the deal is mutually-reinforcing.

SIA’s title sponsorship of the country's Formula One night race potentially helps the carrier, event and host nation soar even faster to greater heights.

Michael Roche, executive director of Singapore GP, said: "Singapore Airlines speaks to all Singaporeans because so many Singaporeans use (its) services and you know, they're very proud about the Singapore Airlines brand and they travel on it. But equally, it gives us the ability now to really reach out in a more positive way to lots of their (SIA's) country offices."

Observers said leveraging the reach Singapore Airlines has as a global carrier to promote the night race should be a priority.

And it is what the airline intends on doing -- to plant the seeds of interest for the event where awareness may not be widespread.

Goh Choon Phong, chief executive officer of SIA, said: "Europe is a strong market; Australia is a strong market; China may not be as strong, for example. So there are always opportunities for us to see how we can actually attract even more people."

The carrier is looking at putting together travel promotions to bring more visitors to Singapore for the race.

Multitudes of people internationally watch the Singapore race every year. This sponsorship naturally means that Singapore Airlines, as a brand, has a ready platform to display itself to a global audience.

Mohit Gopaldas, managing director of Identity Counsel Brand Consultants, said: "It's about claiming a global stage. It's claiming your rightful place in the world as a leading airline and therefore you take a higher-order stance."

But with other carriers already on the Formula One sponsorship scene, observers noted that it is hard to say if Singapore Airlines' move will indeed translate to handsome returns for the carrier. - CNA/gn

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