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26-06-2015, 10:40 PM
(26-06-2015, 08:21 PM)AQ. Wrote: Tough times - renewal of 5y services agreement with SilkAir is for 197mio - compared with 300mio for the one signed in 2010. Not sure if the scope for the contracts are identical though.
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SINGAPORE, 26 June 2015 - Mainboard-listed SIA Engineering Company Limited
(SIAEC) is pleased to announce the renewal of its Services Agreement with SilkAir.
The new agreement covers a broad spectrum of maintenance, repair and overhaul
(MRO) and fleet management services for SilkAir’s fleet of A319/A320 aircraft. The
agreement is firm for five years, with a one-year extension option. The total value of
the contract is $197 million.
SINGAPORE, 9 December 2010 - Mainboard-listed SIA Engineering Company
Limited (SIAEC) is pleased to announce the renewal of its comprehensive Services
Agreement with SilkAir.
The existing Services Agreement with SilkAir expires in 2010. The new agreement,
firm for five years, covers a broad spectrum of maintenance, repair and overhaul
(MRO) and fleet management services for the SilkAir fleet. The 5-year contract is
expected to add $300 million in labour revenue to SIAEC’s order books.
Silkair is retiring its fleet of A319/A320 and replacing them with Boeing B737NG and B737MAX. The reduction in revenue from A319/A320 from FMP services is expected. The question to ask is, whether they are able to secure fleet management services for B737NG/MAX.