SIA Engineering Company (SIAEC) announced on Feb 24, that it has set up a new business unit, the Engine Services Division (ESD), to grow its aircraft engine services business.
Moving forward, all engine-related businesses will be consolidated and developed under the new division, which will lead interactions to complement SIAEC’s network of engine joint ventures in Singapore.
ESD will focus on increasing value to its original equipment manufacturer (OEM) partners and airline customers, and will develop and provide a comprehensive portfolio of engine-related value-added services including engine maintenance and on-wing services.
In addition, ESD will invest in a facility to accommodate growing demand in engine quick turn maintenance, where engine shop visits are driven by specific work to minimise engine time off-wing.
The initial setup of the facility will support maintenance work on the CFM LEAP engines, in line with the maintenance services agreement with Safran Aircraft Engines announced in December 2019.
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The facility will require an increase in manpower to over 100 staff when it opens in January 2022.
“Notwithstanding the current disruption to the airline industry, a recovery in global air travel will create greater demand for quick turn maintenance and shorter engine turnaround, particularly those on narrow-body aircraft,” says SIAEC CEO Ng Chin Hwee.
“The consolidation of our engine-related services under one roof and the investment in a new engine facility will allow us to grow our suite of engine-related capabilities and enhance our ability to service our OEM partners and airline customers. These developments will position us to be first off the blocks in a business upturn and enhance our standing as one of the world’s leading MRO providers,” he adds.
Shares in SIAEC closed 1 cent higher or 0.5% up at $2 on Feb 24.
