February 17, 2016 – Airbus and SIA Engineering Company (SIAEC) have signed an agreement to form a joint venture based in Singapore. The company will provide cabin upgrade, airframe maintenance, 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 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’ center 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, CEO of SIAEC.
“We are pleased to enter into this innovative partnership with SIAEC,” addrd Fabrice Brégier, Airbus’ president and CEO. “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.”