SIA Engrg (SIE): has signed a Tailored Support Package (TSP) contract with Airbus to maintain SIA’s additional fleet of 15 new A330-300 Airbus aircraft scheduled for delivery from 2013. SIE will provide a wide range of MRO services, incl transit and light maintenance checks at SIE’s facilities in Spore.
The transaction is not expected to have a material impact on SIE’s performance in FY11/12.
Stock trades at 14.8x P/E.
The majority of Street has Hold ratings with recent TP btwn $3.66 – 4.86.
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