Singapore’s national carrier Singapore Airlines said on Tuesday that it will be the new title sponsor of the Formula One Singapore Grand Prix.

The sponsorship deal, of which no financial aspects were released, is for the next two years, with an option to renew. The former title sponsor of the race was telecommunications company SingTel, which sponsored the event from the inaugural race in 2008.

“We are thrilled to be taking up the title sponsorship of one of the most exciting races on the F1 calendar, and we are especially pleased to be doing so in the lead-up to Singapore’s 50th birthday next year,” said Goh Choon Phong, Chief Executive Office of Singapore Airlines.

The Singapore GP was the first night race in the sport, and also the first on a street circuit in Asia. In 2012, race organisers signed a contract with Formula One Management that would establish the Singapore race in the F1 calendar until at least 2017.

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