“The support that we will receive from the Singapore government under today’s agreement will enhance Singapore’s role as a regional hub and position IATA well to deliver its leadership priorities in the region,” said Giovanni Bisignani, IATA’s Director General and CEO, after signing a memorandum of understanding with Singapore’s minister for transport.

IATA has had a part in Singapore’s aviation structure since 1969, when it opened an office in the country. Today, that office staffs 80 workers and is the hub for the organization’s financial systems in the region.

Previously, IATA had joined together with the country’s Nanyang Technological University and had agreed to supporting air transport management programs at the university — an aviation program management is being introduced this year and students can enroll in an MBA in aviation management in 2012. Continuing the partnership, IATA has also established scholarships to send up to 12 students to the programs.

“Our vision is to make Singapore the platform for the development of a new generation of aviation executives leading Asia’s aviation growth. The two scholarships will have an important role in developing the future leaders of our industry,” Bisignani said.

Singapore is important to IATA because it is located “between two of our fastest growing markets,” Bisingani said, adding that “the government has a long history of understanding the economic benefits of aviation and supporting its profitable development.”