SIAEC inks $484m 12-year services agreement with SilkAir

The deal will cover services for SilkAir's Boeing 737 MAX aircraft.

SIA Engineering (SIAEC) inked a 12-year services agreement with SilkAir for its latest fleet of Boeing 737 MAX aircraft. The total revenue of this agreement is approximately $484m over the term.

According to an announcement, SIAEC's support of SilkAir’s fleet covers a wide range of maintenance, repair, and overhaul (MRO) and support services. It currently has existing services agreements with SilkAir for its Airbus A320 and Boeing 737-800 aircraft. 

SIAEC CEO Png Kim Chiang commented, "SIAEC and SilkAir have been working very closely and successfully on SilkAir’s Airbus A320 and Boeing 737NG aircraft. This new Services Agreement symbolizes the continued trust that SilkAir has placed on us, and we will deliver to the high level of quality and service expectations of SilkAir in our provision of the services covered in this contract."

None of the directors of SIAEC has any interest, direct or indirect, in the transactions, SIAEC said.