SIA Engineering Company is looking to grow its global line maintenance network to service the expanding fleet of airliners in operation.
"As airlines’ fleet sizes continue to grow globally and the number of flights at airports continue to increase, the expansion of our international line maintenance network is another avenue for us to access a wider market and opportunities," states chairman Stephen Lee in the MRO's latest annual report.
SIAEC's line maintenance network operates at 39 airports in eight countries, including Australia, Indonesia, the United States and Vietnam.
Last May, it established its first line maintenance subsidiary in Japan, based at Osaka Kansai International airport, which has expanded to Narita International and Sapporo New Chitose airports.
"Plans are in the pipeline to increase our service offerings and presence in other airports in Japan," adds Lee.
It also recently signed an agreement with Cebu Pacific Air to explore additional investment in their two joint ventures - airframe and heavy maintenance unit SIA Engineering Philippines and line maintenance provider Aviation Partnership Philippines Corporation.
In October 2017, SIAEC also signed a tentative agreement with Air India Engineering Services Limited to provide "line maintenance and ancillary services, including engineering training, at various airports in India."
As disclosed in May, the company posted a 6.1% rise in operating profit to S$76.4 million ($57 million) for the year ended 31 March. Revenue fell by a marginal 0.8% to S$1.09 billion, although that was offset by an 1.8% fall in expenditure to S$1.02 billion.
Source: Cirium Dashboard