Singapore Airlines to Sponsor Formula One Grand Prix

Singapore Airlines (SIA) has signed a deal to sponsor Singapore's Formula One grand prix race this year in a move to promote its brand among the global TV audience that follows racing.

The financial terms of the deal were not disclosed.

The event runs from September 19th-21st and will see the SIA brand prominently displayed in the city-state's Marina Bay Street racing circuit, as hundreds of millions of TV viewers tune in.

SIA's sponsorship, which will display local telecoms company Singapore Telecommunications, comes as premium carriers such as SIA seek ways to boost their brand while customers increasingly opt for budget airlines. SIA faces serious competition on its medium and long haul routes from both Gulf carriers and Asian regional airlines.

Last year, Emirates Airline, Dubai's flagship carrier, secured a five-year sponsorship deal with the Formula One racing organisation as it also tries to outdo regional rivals.