SIA Engineering Company Ltd. (SIAEC) has signed two-year maintenance and overhaul contracts with Singapore Airlines (SIA) and its low-cost subsidiary Scoot, in deals collectively worth S$1.3 billion ($963 million) in expected labor revenue.
The new agreements, which take effect from April 1, 2025, supersede prior service pacts signed in April 2023. They include an option to extend for an additional year, SIAEC said in a filing on Tuesday.
Under the deals, SIAEC will provide a comprehensive suite of maintenance, repair, overhaul (MRO), and fleet management support for both carriers’ aircraft. The agreements are considered material to SIAEC’s business, which serves over 80 international carriers and aerospace OEMs across Asia-Pacific.
SIAEC, a subsidiary of Singapore Airlines Group, offers services in more than 30 airports across nine countries and operates 25 subsidiaries and joint ventures, including partnerships with major aerospace manufacturers.
It holds regulatory approvals from 28 national aviation authorities, enabling it to service aircraft registered in key markets including the U.S., Europe, and China.
No directors or controlling shareholders of the involved companies have any direct or indirect interests in the transaction, the company said.
Business News Asia