SIA Engineering Soars 4.63%; SIA Engineering Set to Benefit From New Agreements With Singapore Airlines and Scoot
SIA Engineering stands to benefit from new comprehensive services agreements signed with Singapore Airlines and Scoot recently, OCBC Investment Research's Ada Lim says in a research report.
Based on the maintenance, repair, and overhaul services provider's announcement on the Singapore Exchange, the agreements are expected to generate a total labor revenue of S$1.3 billion over two years.
This translates to a significant labor revenue step-up of 54.7% per annum when compared to the previous agreements, the analyst estimates.
OCBC updates its model to incorporate the new contracts, and raises the stock's fair value estimate to S$3.00 from S$2.64 with an unchanged buy rating.
SIA Engineering soars 4.63% at 3:01 pm, Jun 5th.
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