SIA Engineering, Korean firm set up line maintenance JV

Singapore

MAINBOARD-LISTED SIA Engineering has entered into an agreement with Air Innovation Korea to form a line maintenance joint venture based in South Korea.

In a statement filed on Saturday with the Singapore Exchange, the Singapore provider of aircraft maintenance, repair and overhaul services said it will hold an equity stake of 51 per cent, with the Korean partner taking 49 per cent in the joint venture, which will have an initial registration capital of 4.77 billion won (S$5.6 million).