SIA Engineering inks fleet management JV with Boeing

It’s a game changer for SIAEC.

While Singapore’s flag carrier struggles to maintain market leadership, its engineering arm is venturing into new ground to capture the region’s burgeoning growth opportunities.

SIA Engineering inked a joint venture with Boeing Corporation on Wednesday, which will provide fleet management services to airlines in the Asia-Pacific and beyond.

Under the agreement, SIAEC will hold a 49% equity stake in the joint venture, with the
remaining 51% to be held by Boeing.

According to a joint statement, “The joint venture will leverage on Boeing’s original equipment manufacturer (OEM) expertise and advanced e-enabling technology, as well as SIAEC’s extensive maintenance experience and intimate knowledge of airlines’ engineering needs, to provide a customised, comprehensive and integrated suite of fleet management services to customers. The joint venture will offer service offerings for Boeing 737s, 747s, 777s and 787s.”

Here’s more:

Through the unique SIAEC/Boeing collaboration, airlines will be able to procure the full spectrum of engineering, materials management and fleet support solutions, thereby deriving higher operating efficiencies and greater upfront certainty in their fleet servicing costs.

SIAEC’s President & Chief Executive Officer, Mr William Tan said: “The joint venture will be a game changer for the airline industry. It will set new standards for aircraft reliability and utilisation.

It will also make fleet management solutions far more accessible, customisable and affordable for airlines. Aircraft ownership will be made much simpler. SIAEC is delighted to partner Boeing in changing the future of aircraft fleet management for the industry.”

“Through this joint venture, customers of Boeing GoldCare and other operators of Boeing airplanes will now have access to an even broader range of world-class support and services, competitively priced and located in one of the fastest-growing aviation markets,” said Ray Conner, Boeing vice chairman and president and CEO, Commercial Airplanes.

“We look forward to a closer partnership with SIA Engineering Company, which is widely recognized for outstanding quality and customer service, as part of our ongoing efforts to give our customers a competitive advantage in the marketplace.”