SIA Engineering Company Limited (SIAEC) on Thursday said it has signed a $166 million, five-year contract with Cebu Air, Inc to cover both its present and new fleet of A320 series aircraft to be delivered over the next five years.
Under the agreement, SIAEC will provide Cebu Air with a wide range of fleet management and maintenance, repair and overhaul (MRO) services, which will be performed in Singapore and at SIAEC\'s facilities in the Philippines.
The contract covers the rapidly growing fleet of Cebu Air, which will see its current fleet of 30 A320/A319 aircraft growing to a fleet of 48 aircraft, to be delivered progressively over the next five years.
With the latest contact, the total revenue of SIAEC group contracts with Cebu Air will grow to S$236 million. However, it is not expected to have a material impact on SIAEC\'s financial performance in FY2012/13
Under the agreement, SIAEC will provide Cebu Air with a wide range of fleet management and maintenance, repair and overhaul (MRO) services, which will be performed in Singapore and at SIAEC\'s facilities in the Philippines.
The contract covers the rapidly growing fleet of Cebu Air, which will see its current fleet of 30 A320/A319 aircraft growing to a fleet of 48 aircraft, to be delivered progressively over the next five years.
With the latest contact, the total revenue of SIAEC group contracts with Cebu Air will grow to S$236 million. However, it is not expected to have a material impact on SIAEC\'s financial performance in FY2012/13