Maintenance, repair and overhaul firm SIA Engineering has renewed an existing services agreement with SIA subsidiary SilkAir, which was due to expire in 2010.

The new deal, valued at S$300 million ($229 million) will last for five years, says SIA Engineering.

It covers maintenance, repair and overhaul as well as fleet management services for the SilkAir fleet, it adds.

"The renewal of the services agreement affirms the strong synergies and excellent commercial relationship with SilkAir, as we work closely to uphold its engineering excellence," says SIA Engineering's CEO William Tan.

The MRO firm's fleet management programme business currently services 11 airlines with a fleet coverage of over 200 aircraft, with 130 in service and the remaining to be delivered over the next three years.

Source: Air Transport Intelligence news