Singapore Airlines (SIA) said Tuesday it is still keen on building a relationship with China Eastern Airlines (CEA) after shareholders of the Chinese carrier rejected the SIA-Temasek bid for a 24 percent stake at 3.80 Hong Kong dollars per share.

"Singapore Airlines is disappointed that the proposed transaction involving an equity stake in China Eastern Airlines did not receive the required level of support from independent shareholders at today's EGM," SIA said in a statement.

"Singapore Airlines will continue to support the building of a relationship with China Eastern, noting that the airlines are still mutually willing to develop the relationship," it said.

CEA president Li Fenghua said the rejection of the deal will delay the Chinese carrier's development.

Li told a special meeting of shareholders that the Chinese airline had also failed to adequately communicate its point of view after shareholders overwhelmingly voted against the deal.

CEA has also ruled out Air China as a strategic investor for his airline, saying SIA remained the best option.

"The transaction represents what all parties believe is, and remains, a full and fair value for the equity injection to recapitalize the airline," SIA said.

"The proposal is for a long-term strategic relationship with a willing partner.

With board and management involvement by Singapore Airlines, the proposal brings international expertise to China Eastern, which will help the airline meet the future challenges it will face in a competitive aviation environment in China," it said.