SINGAPORE - Mainboard-listed SIA Engineering Company (SIAEC) announce that it renewed its comprehensive services agreement with Singapore Airlines (SIA).

The existing services agreement with SIA expires this year.

The new agreement, which started on April 1, is for three years, and comes with options to renew for three years, and a further period of two years.

SIAEC will provide maintenance, repair and overhaul, and fleet management support services.

The agreement is expected to yield $2.6-2.9 billion in labour revenue over the eight-year term.

SIAEC's chief executive officer Png Kim Chiang said: "We value the strong commercial relationship and synergies we share with our anchor customer SIA.

The renewal of this services agreement reaffirms our commitment to providing high quality and comprehensive engineering support to the Airline. We will continue to work closely with SIA to uphold its engineering excellence."

Mr Mervyn Sirisena, Singapore Airlines' senior vice-president for engineering, said: "SIA is focused on upholding the highest engineering standards of aircraft safety and reliability in its operations, with cabin excellence a hallmark of SIA's reputation and success. The renewal of this Agreement underlines our confidence in SIAEC's outstanding engineering capability to achieve these objectives."