SIA Engineering Company (SIAEC) has signed an inventory technical management programme with Thai VietJet, Thailand’s leading low-cost carrier.
Thai VietJet is based in Bangkok’s Suvarnabhumi Airport.
The agreement provides component support coverage to Thai VietJet’s fleet of Airbus A320 aircraft over six years.
Under the programme, SIAEC will provide comprehensive pooling, as well as a repair and overhaul of airframe and engine components.
The Mainboard-listed company will also provide on-site stock in Bangkok to support Thai VietJet within the Asia Pacific (APAC) region.
The transaction is not expected to have a material impact on SIAEC’s net tangible assets (NTA) or earnings per share (EPS) for the FY2021/2022.
See also: SIA to adjust conversion prices of 1.625% convertible bonds due 2025 after interim dividend
Shares in SIAEC closed 1 cent lower or 0.46% down at $2.19 on Nov 3.
