Airline News
Singapore MRO Digest, Vector opens new MRO centre
May 18th 2015
Singapore last week strengthened its position as the region’s premier maintenance hub, with global MRO expert, Vector Aerospace Corporation, announcing the opening of a $50 million turboprop facility operated in conjunction with the Republic Polytechnic of Singapore under a three-year Memorandum of Understanding. Read More » The 5,200m² plant will be a Pratt & Whitney Canada PW150 Designated Overhaul Facility equipped with full engine overhaul and test capability, and employ 140 engineers. “By locating in the Asia-Pacific region, we are able to provide the owners of PW150 engines and operators of the popular Bombardier Q400 regional turboprop with a cost-effective, viable and easily accessible MRO solution. Engine owners and operators will benefit in terms of faster turnaround times, minimized shipping costs and superior customer service,” said Declan O’Shea, president and chief executive of Vector.
The city’s largest MRO provider, SIA Engineering, last week reported a 37% year-on-year decline in Q4 net profit as fewer aircraft came in for checking. "Advancements in the newer generation engines have improved their reliability, while older generation engines are being phased out. These developments will continue to result in a reduction in engine shop visits," SIA Engineering said. Net profit in the January to March quarter was S$41.4 million Singapore dollars, compared with S$65.2 million in the same period last year. Revenue declined 11%, to S$276 million, the MRO arm of Singapore Airlines said in a statement to the Singapore Exchange. Profit for the full fiscal year declined 31% to S$183 million.
Singapore’s ST Aerospace has posted a 4% Q1 pre-tax profit drop to S$71.4 million ($54.2 million). Revenues at ST fell 2% year-on-year across its three business arms, following a 13.7% decline in the maintenance and modification business, while the component engine repair and overhaul arm and the engineering and materials service arm posted revenue increases of 2.5% and 30%, respectively.
