SINGAPORE, July 9, 2014 /PRNewswire/ -- Boeing (NYSE:
BA) is enhancing its support to customers in Southeast Asia through a joint venture in
Singapore with SIA Engineering
Company (SGX: SIAEC). Boeing and SIAEC signed an agreement today to
form Boeing Asia Pacific Aviation Services, which will provide
industry-leading engineering, spare parts, and repair and
maintenance services for Boeing airplanes.
"Boeing is focused on giving our customers superior support and
every competitive advantage in the marketplace," said Boeing
Commercial Airplanes president and CEO Ray
Conner. "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 aviation's
fastest-growing markets. 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 edge in the
marketplace."
Boeing has signed contracts for maintenance and engineering
services to cover Scoot's fleet of 20 787 Dreamliners currently on
order and Singapore Airlines' fleet of 27 777-300ERs. Services for
Scoot and Singapore Airlines will be provided through the new
venture, which combines Boeing engineering management with repair
and maintenance services from SIAEC.
"The joint venture will be a game changer for the airline
industry," said William Tan, chief
executive officer, SIAEC. "It will set new standards for aircraft
reliability and utilization. It will also make fleet management
solutions far more accessible, customizable 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."
More than 50 airlines worldwide – covering approximately 1,700
airplanes – have signed long-term agreements with Boeing for a
suite of customizable service offerings that include engineering,
materials and maintenance solutions. This suite of services
provides airlines with predictable maintenance costs, managed to
measurable performance standards.
Boeing Asia Pacific Aviation Services will offer customers a
wide range of aviation services. Boeing will hold a 51 percent
equity stake in the joint venture, with the remaining 49 percent
owned by SIAEC. The joint venture will service 737s, 747s, 777s and
787s.
Other terms of the transaction were not disclosed. Formation of
the joint venture is expected to occur by the end of 2014, subject
to customary closing conditions and regulatory approvals.
Forward-Looking Information Is Subject to Risk and
Uncertainty
Certain statements in this release may be
"forward-looking" within the meaning of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
expected timetable for completing the transaction, future business
prospects, and benefits and synergies of the transaction, as well
as any other statement that does not directly relate to any
historical or current fact. Forward-looking statements are based on
current assumptions about future events that may not prove to be
accurate. These statements are not guarantees and are subject to
risks, uncertainties and changes in circumstances that are
difficult to predict. Many factors could cause actual results to
differ materially from these forward-looking statements. As a
result, these statements speak only as of the date they are made
and we undertake no obligation to update or revise any
forward-looking statement, except as required by law. Specific
factors that could cause actual results to differ materially from
these forward-looking statements include the effect of global
economic conditions, the ability of the parties to consummate the
transaction and other important factors disclosed previously and
from time to time in our filings with the Securities and Exchange
Commission.
About Boeing Commercial Aviation Services – The Boeing
Edge
Boeing Commercial Aviation Services is a division of
Boeing Commercial Airplanes, offering the aviation industry's
broadest portfolio of customer support and services. Offerings
comprised of Fleet, Flight, Material and Information Services are
marketed collectively as the Boeing Edge and are designed to help
customers maximize the efficiency and value of their airplanes and
fleets. Commercial Aviation Services supports more than 12,000
airplanes world-wide, with 330 field services offices in 60
countries.
About SIA Engineering Company
SIA Engineering Company
(SIAEC) is a major provider of aircraft maintenance, repair, and
overhaul (MRO) services in the Asia-Pacific. The company has a client base of
more than 80 international carriers and aerospace equipment
manufacturers. It provides line maintenance services at 34 airports
in seven countries, as well as airframe and component services on
some of the most advanced and widely used commercial aircraft in
the world. Apart from offering a comprehensive spectrum of MRO
services to airlines, SIAEC has established itself as one of the
world's largest fleet management service providers.
SIAEC has 26 ventures with original equipment manufacturers and
strategic partners in Singapore,
Australia, Hong Kong, Indonesia, Ireland, Philippines, United
States, Taiwan and
Vietnam that increase the depth
and breadth of the Company's service offerings. SIAEC has approvals
from 26 national aviation regulatory authorities to provide MRO
services for aircraft registered in the U.S., Europe and Japan, among others.
Contacts:
Jay Krishnan
Boeing Communications - Singapore
jay.krishnan@boeing.com
Office: +65
8839809
Mobile: +65 97291136
Chia Peck Yong
SIA Engineering Company Limited
peckyong_chia@singaporeair.com.sg
Office: +65 6541 5134
Mobile: +65 9863 0982
Jim Condelles
Boeing Commercial Airplanes – Seattle
jim.condelles@boeing.com
Office: +1 206-766-2924
Mobile: +1 206-769-6310
SOURCE Boeing