Vietnam - Singapore agree joint venture on aircraft maintenance

Thursday, 2018-04-26 17:48:57
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At the signing ceremony (Photo: VGP)
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NDO - A Memorandum of Understanding (MoU) to establish a joint venture between Vietnam Airlines and Singapore Technologies Aerospace Ltd (ST Aerospace) was signed on April 26.

The signing ceremony was witnessed by Prime Minister Nguyen Xuan Phuc on the framework of his on-going official visit to Singapore from April 25-27 at the invitation of Singaporean Prime Minister Lee Hsien Loong.

The joint venture will focus on the maintenance of aircraft’s high-tech equipment with an average maintenance of 17,500 devices per year.

The two sides will also continue to study and expand the scope of cooperation, maintenance, training, and exchange of technical personnel.

The joint venture is expected to help Vietnam Airlines to shorten the turnaround time for maintenance and repairs, thus reducing costs and leading to higher operational efficiency.

According to ST Aerospace President Lim Seth Ghee, the robust development of the economy and growing travel demands have created an ideal environment for the growth of aviation in Asia Pacific and Vietnam’s double digit growth in the air travel sector is a clear reflection of this.