Asia-Pacific Aerospace Briefs Today
May 14th 2024
Today's briefs report news from Air India, Civil Aviation Authority of Singapore, MMAG Holdings, SIA Engineering Company, SriLankan Airlines, ST Engineering, Supreme Global Holdings (Private) and Teleport. Read More »
Air India has selected SIA Engineering Company (SIAEC) as its strategic partner to develop the airline's maintenance base (BM) in Bangalore, with completion of the facility scheduled for 2026. “As part of the partnership, SIAEC will work closely with Air India on the planning, construction, development and operationalisation of Air India’s BM in Bangalore,” SIAEC said in a regulatory filing.
Still with SIAEC, the MRO provider has reported a net profit of S$97.1 million (US$72 million) for the 12 months to March 31, higher by 46.2% from a S$66.4 million net profit a year ago. Revenue increased 37.5%, to S$1.1 billion, SIAEC said in a regulatory filing. “Demand for MRO services looks healthy as global air travel and flight activities edge closer to pre- pandemic levels,” SIAEC said. “However, a tight labour market, supply chain issues and inflation remain key concerns that weigh on our near-term operating margins.”
The Civil Aviation Authority of Singapore is working with Changi Airport Group, dnata, SATS and SIAEC to conduct a one-year trial of renewal diesel for refuelling airside vehicles at Changi Airport.
Malaysia-listed MMAG Holdings and Sri Lanka-headquartered Supreme Global Holdings (Private) have signed a strategic agreement to support Supreme Global’s bid for SriLankan Airlines. “Supreme Global is engaged in the acquisition of SriLankan Airlines, the national airline of Sri Lanka, along with its consortium partner,” MMAG said in a regulatory filing. The agreement will require MMAG Holdings to provide “freighter aircraft and operational support to establish a cargo feeder network for SriLankan Airlines following its acquisition by Supreme Global and its partner”. Services will include the planning, staffing, managing and maintaining of the cargo network, MMAG said.
ST Engineering’s latest market update has reported commercial aerospace business revenue of S$1.2 billion (S$852 million) in the three months to March 31, a 32% increase from S$873 million for the same quarter in 2023.
Teleport, the logistics arm of Malaysia-listed Capital A, is aiming reach two million daily parcel deliveries by 2025. “Affordable, next day delivery for all in Southeast Asia is the final mission from the day one vision,” Teleport CEO, Pete Chareonwongsak, said. “Our next five years will deliver this and help all businesses with simpler and better service. Also our airline partners will never have to fly empty.”
