Boeing will enter a Singapore-based joint venture with SIA Engineering to provide fleet management services to airlines in the Asia and Asia-Pacific regions. Boeing will be the majority partner in this holding with a 51 percent stake in the new company, while SIA Engineering, a subsidiary of Singapore Airlines, will take up the other 49 percent.
“The joint venture will be a game changer for the airline industry,” William Tan, SIA Engineering’s chief executive,” said in a press release.
The new venture is expected to be completed by the end of the year. As a result of the fleet management pair-up SIA will be able to service Boeing 737, 747, 777 and 787 aircraft.
“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.”
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