SIA Engineering Company signs $358 million Services Agreement with SIA Cargo

SIA Engineering Company Limited (SIAEC) reported the renewal of its comprehensive Services Agreement with Singapore Airlines Cargo (SIA Cargo). The existing Services Agreement with SIA Cargo expires in June 2011. The new agreement, commencing 1 July 2011, is firm for three years, with a two-year extension if agreed conditions are met. Under the agreement, SIAEC will provide the SIA Cargo fleet with a broad spectrum of maintenance, repair and overhaul (MRO) and support services. The 5-year agreement is expected to add $358 million in revenue to SIAEC’s order books.