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SIA Engineering and Boeing to disband fleet management services joint venture
July 21st 2022
SIA Engineering Company Limited (SIAEC) said its joint venture with Boeing, Boeing Asia Pacific Aviation Services (BAPAS), will shut down in August. Read More » BAPAS, which offers airlines fleet management services, will cease operations by “mutual agreement of the shareholders due to challenges arising from the changing business environment”, SIAEC informed Singapore's SGX stock exchange. Established in 2015, the shareholders are SIAEC (49%) and Boeing (51%). “The cessation of business operations is not expected to have a material impact on the net tangible assets per share or the earnings per share of the SIAEC Group in fiscal year 2022-2023,” SIAEC said.
