New Component and Engine Ventures

SIA Engineering Company (SIAEC) signed a memorandum of understanding in April to potentially lease two hangars in Subang, Malaysia. As part of its agreement in February to acquire a 75% stake in SR Technics Malaysia, it announced plans to establish a component repair joint venture in the country. SIAEC also opened a S$9 million ($6.5 million) CFM LEAP-1A and -1B Aircraft Engine Services facility in February, which has capacity to perform at least 60 engine quick turns annually.