SINGAPORE (Apr 1): SIA Engineering Company (SIAEC) has signed a new comprehensive services agreement with parent company Singapore Airlines (SIA) for a term of 2 years, with an option to renew for a further period of 2 years.

If the agreement is renewed after the first two years, it is expected to yield SIAEC a labour revenue of around $1.3 to 1.4 billion over four years.

The new agreement will commence on April 1, 2019. It will supersede the previous services agreement entered into in April 2015.

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