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SIA Engineering inks S$1.3 billion deal to service SIA, Scoot fleets

SIA Engineering inks S$1.3 billion deal to service SIA, Scoot fleets

By Swedan Margen

Fashion

The company will provide support for two years, with an option to extend by one year

Mainboard-listed SIA Engineering (SIAEC) signed fresh services agreements with national carrier Singapore Airlines (SIA) and its low-cost subsidiary Scoot on Tuesday (May 20), in a deal expected to yield a total labour revenue of S$1.3 billion.

The new agreements took effect from Apr 1 for a term of two years, with a one-year extension option, said the company.

The signing supersedes earlier contracts inked in April 2023.

SIAEC’s support of the SIA and Scoot fleets includes maintenance, repair and overhaul, as well as fleet management support services.

Shares of SIAEC ended Tuesday S$0.01 or 0.4 per cent higher at S$2.44, before the announcement.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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