SINGAPORE (Oct 7): SIA Engineering Company says it has set up a joint venture company, Boeing Asia Pacific Aviation Services, with Boeing.

SIAEC will hold a 49% in BAPAS while Boeing will hold the remaining 51%.

BAPAS will offer a customised, comprehensive and integrated suite of engineering, materials management and fleet support solutions, including Boeing GoldCare, for Boeing 737, 747, 777 and 787 aircraft to customers in Asia Pacific and beyond.

“The joint venture will position SIAEC strategically to develop the fleet management business for Boeing aircraft types, and the opportunity for downstream MRO business over the longer term. BAPAS will enable SIAEC and Boeing to better serve customers in the region,” says SIAEC in its SGX filing.

With this addition, SIAEC says it will have a portfolio of 27 joint ventures spread across 9 countries with aerospace OEMs and other strategic partners.

SIAEC closed 2.4% higher at $3.83.