Singapore’s SIA Engineering Co. Ltd. has signed a $166-million contract to manage, maintain, repair and overhaul Cebu Air Inc.’s feet of A320 aircraft.

 

The contract covers Cebu Air’s existing and new A320s. The latter are expected to be delivered in the next five years.

Cebu Air, whose shares are listed on the Philippine Stock Exchange (PSE), is the operator of Philippine flag carrier Cebu Pacific.

 

The new contract brought SIAEC Group’s total revenue stream from Cebu Air to S$236 million, Cebu Air said in a statement to the PSE. — VS, GMA News