ST Engineering and Vietnam Airlines form JV in Vietnam
The joint company will focus on component MRO solutions.
Singapore Technologies Engineering’s (ST Engineering) aerospace arm and Vietnam Airlines Engineering Company (VAECO), a subsidiary of Vietnam Airlines, have formed a joint venture (JV) company in Vietnam to focus on component Maintenance, Repair & Overhaul (MRO) solutions.
The JV firm, Vietnam Singapore Technologies Engineering Aerospace (JVCo), was set up with a paid-up capital of $5.3m (US$3.9m). ST Engineering holds a 49% stake in the JV company.
The firm will carry out component MRO work in Noi Bai International Airport in Hanoi and Tan Son Nhat International Airport in Ho Chi Minh City.
Operations are expected to begin in mid-2019 and will be equipped to support aircraft types including A350, Boeing 787 and ATR72, and carry out MRO work on pneumatics, hydraulics, electrical components, wheels and brakes as well as safety equipment.