SIA Engineering Company (SIAEC) has renewed its services agreement with SilkAir.

Valued at S$197 million ($145.6 million), the contract will last for five years with a one-year extension option, says SIAEC.

The new agreement covers MRO and fleet management services for SilkAir’s fleet of Airbus A320 family aircraft.

As the new services agreement re-establishes an existing arrangement, it is not expected to have a material impact on SIAEC’s financial performance in fiscal year 2015/16, it adds.

Flightglobal’s Ascend Fleets database shows that SilkAir operates a fleet of 18 A320 family aircraft.

Source: Cirium Dashboard