SINGAPORE (Oct 19): SATS' wholly-owned subsidiary, SATS Investments, has entered into a memorandum of agreement (MOA) to provide Turkish Airlines and other airlines in-flight catering services at Istanbul New Airport.

THY is a four-star airline with a fleet of about 329 passenger and cargo aircraft that flies to 300 destinations worldwide.

Under the agreement, SATS will invest in a Turkish catering company which would operate one of the largest flight kitchens in the world at a key aviation hub.

The agreement is valid for a period of six months from the date of its signing, which was on Tuesday.

Shares in SATS are trading at $4.68 as at 9.38am.