SIA extends title sponsorship for Singapore F1 race for 3 more years

SINGAPORE — Singapore Airlines extended its title sponsorship for the Formula One race in the Republic for three more years, starting from the 2022 race that will be held in late September, the national carrier said on Saturday (May 14).

Announcing the move in a media statement, SIA executive vice president of commercial Lee Lik Hsin said the extension "complements the expansion of (the airline's) global network and will bolster Singapore’s recovery as a key international air hub".

Said Mr Lee: “This year’s highly anticipated F1 Singapore Grand Prix will be an important milestone for Singapore, marking the return of a major international sporting event to the city after a two-year disruption due to the pandemic."

SIA did not disclose the sponsorship costs.

The race this year will be held on Sept 30 to Oct 2.

SIA first signed as the title sponsor for the race 2014 for four years, and then extended its sponsorship twice, in 2018 and 2020, for two years in each instance.

The latest move will mean that the F1 race held in Singapore will have SIA as its title sponsor until 2024.

In January, race organisers Singapore Grand Prix and the Singapore Tourism Board announced that the Republic will continue to host F1 for seven more years, until 2028, in its longest contract extension.

The decision follows a two-year hiatus for F1's return to the Marina Bay Street Circuit due to the Covid-19 pandemic, which also led to multiple race cancellations elsewhere around the world.

On Saturday, Mr Brandon Snow, F1's managing director of commercial, said the sport is pleased with SIA's decision to extend its title sponsorship, adding that the Singapore Grand Prix is the "original F1 night race" and an iconic Formula One event loved by fans and drivers.

"This year’s race will see further use of renewable energy and sustainable materials, and the commitments from Singapore Airlines towards sustainable aviation fuels reflect the continued alignment between all partners and Formula One in reducing environmental impact,” said Mr Snow.