According to SIAEC, the agreements are expected to yield a total labour revenue of $1.3 billion over two years and are “material” to its business.
Analysts from CGS International and DBS Group Research believe SIA Engineering Company’s (SIAEC) new $1.3 billion service agreements with Singapore Airlines (SGX:C6L
) (SIA) and Scoot could be “very positive” for the former.
On May 20, SIAEC said it signed new agreements with both airlines. The agreements, which will last two years, became effective on April 1. The airlines will have the option to extend these agreements for one more year.
