Boeing has signed a joint venture agreement with SIAEC to form Boeing Asia Pacific Aviation Services, which will provide engineering, spare parts, and MRO services for Boeing aircraft.
Boeing Commercial Airplanes president and CEO Ray Conner said: "Through this joint venture, customers of Boeing GoldCare and other operators of Boeing airplanes will now have access to an even broader range of support and services, competitively priced and located in one of aviation's fastest-growing markets. We look forward to a closer partnership with SIAEC.”
Boeing has signed contracts for maintenance and engineering services to cover Singapore Airlines subsidiary Scoot's fleet of 20 787s currently on order, along with Singapore Airlines own fleet of 27 777-300ERs.
William Tan, CEO of SIAEC, said: "The joint venture will be a game changer for the airline industry. It will set new standards for aircraft reliability and utilization. It will also make fleet management solutions far more accessible, customizable and affordable for airlines.”
Boeing will hold a 51% equity stake in the joint venture, with the remaining 49% owned by SIAEC.