Singapore Airlines announced on Saturday that it will continue as the title sponsor of Formula 1’s Singapore Grand Prix for three more years, starting with this year’s race weekend taking place from 30 September to 2 October.
The Singapore Grand Prix returns to F1’s race calendar after a two-year absence due to the COVID-19 pandemic.
Renewal of a partnership in the name of speed
The Singapore Grand Prix first joined F1’s calendar in September 2008, and Singapore Airlines (SIA) signed on as title sponsor in 2014. The agreement was extended in 2018 and 2020 for two years each.
It seems as if the partnership was a positive and successful one, encouraging both parties to extend for an increased three years.
The news is somewhat fitting for Singapore’s future as a regular fixture during the racing championship as F1 agreed to a new long-term deal with Singapore for the circuit to remain on the calendar for the next six years – the longest contract extension ever from F1.
Brandom Snow, Managing Director of Commercial, Formula 1, welcomed the SIA’s continued support for the Singapore Grand Prix not only for racing purposes but for tourism and the environment:
“We are pleased that Singapore Airlines will continue to be the title sponsor of the Singapore Grand Prix for another three years. The Singapore Grand Prix is the original F1 night race, an iconic Formula 1 event loved by fans and drivers, and it returns to the calendar after two years away. This year’s race will see further use of renewable energy and sustainable materials. The commitments from Singapore Airlines towards sustainable aviation fuels reflect the continued alignment between all partners and Formula 1 in reducing environmental impact.”
Just like the aviation sector, improving sustainability is a massive focus for those within Formula 1 and motorsport in general. Various racing venues across the Formula 1 calendar are working towards net-zero emissions during a race weekend amongst other initiatives and swaps being made to improve the world championship’s impact on our world.
The Singapore flag carrier will welcome the increased exposure and passenger demand that will come with the Formula 1 partnership. The renewal of the contract with Formula 1 demonstrates the SIA’s determination to recover and reach post-pandemic numbers. Especially as the carrier made a profit for the first time in two years in February, they will be seeking a significantly more successful quarter.
Considering Singapore fully reopened its borders as recently as last month, it is reasonable to suggest that Singapore Airlines also hopes that the partnership will help nudge the country’s overall sentiments towards travel towards an excited and positive mindset in the wake of public hesitancy towards travel.
The announcement was celebrated by Singapore Airlines’ Executive Vice President, Commercial, Lee Lik Hsin:
“This year’s highly anticipated Formula 1 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. The race will be warmly welcomed by Singapore residents and visitors alike and enhance our reputation as a global city. SIA’s extension of its title sponsorship signals our continued support for both tourism and sports, complements the expansion of our global network, and will bolster Singapore’s recovery as a key international air hub.”
What do you think of the renewal? Will you be attending the Singapore Grand Prix? Let us know in the comments below.