Singapore. 17 FEBRUARY 2016
Airbus and SIA Engineering Company (SIAEC) have signed an agreement to form a joint venture based in Singapore. The company will provide airframe maintenance, cabin upgrade and modification services for Airbus A380, A350 and A330 aircraft to airlines in the Asia-Pacific.
This joint venture marks SIAEC’s first collaboration with a major aircraft manufacturer for airframe maintenance. The agreement is subject to regulatory approvals being obtained in the relevant jurisdictions. Under the agreement, SIAEC will hold a 65% equity stake in the joint venture, with Airbus holding the remaining 35%.
The joint venture will leverage on the synergy of SIAEC’s extensive maintenance experience and expertise with Airbus’ depth of technical and engineering knowledge as an airframe manufacturer. The joint venture will lease two hangar bays from SIAEC for its operations, with plans to add another two hangar bays over the next six years.
“The joint venture will be Airbus’ Centre of Excellence in Asia for the heavy maintenance of the world’s largest commercial airliner, the A380, and the latest aircraft from Airbus, the A350, said Png Kim Chiang, Chief Executive Officer, SIAEC. “SIAEC is delighted to partner Airbus in providing the airline industry with a focused service and technical support for the A380 and A350 fleet.”
“We are pleased to enter into this innovative partnership with SIAEC,” said Fabrice Brégier, Airbus President and Chief Executive Officer. “The Asia-Pacific region is a key market for Airbus widebody aircraft and will continue to drive demand for larger aircraft types such as the A380, A350 and A330 in the coming years. Setting up a world class facility in this region through our joint venture with SIAEC reflects Airbus’ strategy to develop a full range of support services for operators of our aircraft near to their home bases.”
SIA Engineering Company (SIAEC) is a major provider of aircraft maintenance, repair, and overhaul (MRO) services in the Asia-Pacific region, with a client base of more than 80 international carriers and aerospace equipment manufacturers.