Boeing expands maintenance in Southeast Asia
Boeing and SIAEC signed an agreement today to form Boeing Asia Pacific Aviation Services, which will provide industry-leading engineering, spare parts, and repair and maintenance services for Boeing airplanes.
Boeing has signed contracts for maintenance and engineering services to cover Scoot's fleet of 20 787 Dreamliners currently on order and Singapore Airlines' fleet of 27 777-300ERs. Services for Scoot and Singapore Airlines will be provided through the new venture, which combines Boeing engineering management with repair and maintenance services from SIAEC.
More than 50 airlines worldwide – covering approximately 1,700 airplanes – have signed long-term agreements with Boeing for a suite of customizable service offerings that include engineering, materials and maintenance solutions. This suite of services provides airlines with predictable maintenance costs, managed to measurable performance standards.
Boeing Asia Pacific Aviation Services will offer customers a wide range of aviation services. Boeing will hold a 51 percent equity stake in the joint venture, with the remaining 49 percent owned by SIAEC. The joint venture will service 737s, 747s, 777s and 787s.
Other terms of the transaction were not disclosed. Formation of the joint venture is expected to occur by the end of 2014, subject to customary closing conditions and regulatory approvals. ■