SIA Engineering Company (SIAEC) S59 has announced the expansion of the scope of its services agreement with Scoot to include the airline’s new Embraer E190-E2 fleet, with the additional scope estimated to generate a revenue of $52 million.
The expanded scope of services will commence on April 1 for a period of 58 months with an option to extend coverage for a further 24 months, and cover line maintenance and selected fleet management support services.
The transaction is not expected to have a material impact on the net tangible assets per share or the earnings per share of SIAEC for the FY2024 ending March 31.
Shares in SIAEC closed 1 cent higher or 0.44% up at $2.28 on March 12.
