SIAEC airframe and line maintenance revenue up $644.9m in FY 22/23

This is an increase from $465.8m revenue recorded in the year before.

Singapore Airlines Engineering Company (SIAEC) revealed that its airframe and line maintenance revenue grew due to the stonger demand for aircraft checks.

In a report, there were a total of 662 checks completed in FY 2022/2023, 50.1% more than the 441 checks documented in the previous year.

Base Maintenance Clark completed 32 checks, up 33.3% over FY2021/22. There were more checks with heavier work content in FY2022/23 as airlines returned older, parked aircraft to the skies to boost capacity. 

Base Maintenance added new airframe overhaul contracts and expanded its scope of services with seven airline customers and renewed services with two others in FY2022/23. 

This included a new five-year maintenance deal with the SIAEC's existing customer, Hawaiian Airlines, to perform airframe maintenance services for its fleet of A330-200 aircraft. 

Dividend payment

SIAEC board also recommended a final ordinary dividend of 5.5 cents per share for FY 2022/2023.

Payment of the final dividend of over $61.7m will be up to the shareholders’ approval at the Annual General Meeting on 20 July 2023. If approved, the dividend will be paid on 11 August 2023.