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SIA Engineering Company in joint venture with Boeing

To be called Boeing Asia Pacific Aviation Services, the venture will provide engineering, spare parts, and repair and maintenance services for Boeing airplanes across the region.

SINGAPORE: US airplane maker Boeing said on Wednesday that it is enhancing its support to customers in Southeast Asia through a joint venture with SIA Engineering Company (SIAEC).

To be called Boeing Asia Pacific Aviation Services, the venture will provide engineering, spare parts, and repair and maintenance services for Boeing airplanes across the region.

SIAEC will hold a 49 per cent equity stake, while Boeing will own the remaining 51 per cent.

Formation of the joint venture is expected to occur by the end of 2014.

Boeing said it has signed contracts for maintenance and engineering services to cover Scoot's fleet of 20 B-787 Dreamliners currently on order as well as Singapore Airlines' fleet of 27 B-777-300ERs. The services will be provided through the new venture.

Second Minister for Trade and Industry S Iswaran, who was at the signing ceremony, said the joint venture will boost Singapore's ability to tap growth opportunities in the Asia Pacific where aircraft fleets are expected to triple in size over the next 20 years. 

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