Singapore Engineering's stock price closed at 2.44 yuan on Tuesday, up 0.412%.

SIA Engineering renews its comprehensive service agreement with Singapore Airlines and Scoot, which is expected to bring 1.3 billion yuan in labour revenue to the company.

Under the agreement, SIA Project will provide maintenance, repair and renovation (MRO) services for SIA and Scoot aircraft, as well as fleet management support services. Singapore Airlines Engineering pointed out that the 1.3 billion yuan revenue expected to be brought by this contract is very important to the company's business.

After the closing of the market on Tuesday (May 20), Singapore Airlines announced that the comprehensive service agreement signed with Singapore Airlines and Scoot will replace the service agreements previously signed with the two airlines in April 2023. The new agreement will take effect from April 1, 2025 for a period of two years, with an option of one year extension.