Singapore-based aerospace components and systems supplier A-Sonic Aerospace is looking to expand through acquisitions or joint venture partnerships following its initial public offering (IPO) last year.

Chief executive Janet Tan says: "There's a lot more that we are pursuing, such as joint ventures and acquisitions," following the IPO.

A-Sonic, formerly Janco Aviation, raised net proceeds of S$13.8 million ($8.2 million) from its share sale in September last year, and the company is now traded on the Singapore stock exchange.

"We are targeting companies that are manufacturers of aircraft parts," says Tan. "We are also targeting companies that are suppliers of aircraft systems and aerospace components, as well as MROs [maintenance, repair and overhaul companies] - repairers of aircraft systems and aerospace components."

Tan says in addition to seeking joint venture partnerships or acquisitions, A-Sonic is continuing talks to acquire three Boeing 737s from an unidentified Asian airline.

"The plan is after acquiring the aircraft we would do some retrofit work and upgrading work to enhance the capability of the aircraft, after which we will either place it out by way of sale or via leases, depending on which business model or which offer gives us a better return."

Tan adds: "With the leases of the aircraft we will package in some fleet maintenance management contracts." She says A-Sonic is interested in expanding into this area in part because of rapid growth in the low-fare airline market in Asia.

A-Sonic specialises in retrofits of electronic systems and components in aircraft to improve operating efficiency, reduce operating costs and boost safety.

Source: Flight International