SIA Engineering (SIAEC) has renewed an existing services agreement with Singapore Airlines with effect from 1 April.
The new deal, valued at S$2.2 billion ($1.58 billion), will last for three years, and will be extended for another two years if "agreed conditions are met", says SIAEC.
The agreement will cover maintenance, repair and overhaul and fleet management support services, it adds.
"We value the strong commercial relationship and synergies we share with our anchor customer. With this comprehensive agreement, we will continue to work closely with SIA to uphold its engineering excellence," says SIAEC's CEO William Tan.
SIA's senior VP for engineering Mervyn Sirisena says: "The renewal of the agreement underlines the confidence and satisfaction we have in the quality and variety of engineering services provided by SIAEC."
As this is a renewal of an existing agreement, it is not expected to have a material impact on SIAEC's financial performance, says the MRO firm.