Superseding the 2019 agreement signed with Singapore Airlines (SIA), SIA Engineering Company (SIAEC) signed new Comprehensive Services Agreement, effective April 1, 2023. The new agreement is for a term of two years with an option to extend for one year. SIAEC covers a broad spectrum of maintenance, repair and overhaul (MRO) and fleet management support services for Singapore Airline’s fleet. The agreement if extended after the first two years is expected to yield a labour revenue of $1.14 billion over the three-year term. The transaction is not expected to have a material impact on the net tangible assets per share

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