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SIA Engineering renews service agreement with SIA Cargo
It is expected to yield $250m over an 8-year term.
SIA Engineering Company Ltd. has signed the renewal of its comprehensive services agreement with Singapore Airlines Cargo as the existing deal is set to expire this year.
According to the group, the new agreement is for a term of 3 years, with options to renew for 3 years and a further period of 2 years.
"The Company’s support of the SIA Cargo’s freighter fleet covers a broad spectrum of maintenance, repair and overhaul, and support services," the group said.
The agreement is expected to yield a revenue of up to $250m over the 8-year term.
SIAEC CEO Png Kim Chiang said the two groups have a strong and mutually beneficial relationship build over so many years.
"We have worked closely with SIA Cargo to uphold its engineering excellence and optimise its operating efficiencies. The renewal of this Services Agreement reaffirms our commitment to provide high quality and comprehensive engineering support to SIA Cargo," he said.
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