Singapore Airlines 2012 Annual Report Download - page 34
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032 SINGAPORE AIRLINES
SIA Engineering Company achieved
revenues of $1,170 million.
Profit attributable to equity holders
was $269 million.
SIA Engineering Company
During the year under review, SIA Engineering Company
(SIAEC) increased its revenue by 5.7% to $1,169.9 million. Profit
attributable to equity holders grew 4.1% to $269.1 million.
SIAEC continued to stay at the leading edge of aircraft
technology, performing the world’s first 48-month check
of the Airbus A380 superjumbo, a major maintenance
milestone for the world’s largest aircraft.
Leveraging on its wide bench of technical expertise and
extensive capabilities in new-generation aircraft, SIAEC
successfully attracted more airline customers to its fleet
management business, consolidating its position as one of
the world’s largest fleet management service providers.
The Company secured a six-year contract with Airbus to
provide fleet management, line maintenance, heavy and
light checks, defect rectification and cabin maintenance for
Singapore Airlines’ 15 additional Airbus A330-300s. SIAEC
also signed fleet management agreements with Mandala
Airlines and VietJet Air to cover the carriers’ Airbus A320
fleets. These three contracts have a combined value of more
than $350 million.
During the year, SIAEC renewed its maintenance, repair and
overhaul agreement with SIA Cargo and secured a contract to
provide engineering support for Scoot’s Boeing 777-200 fleet.
The Company continued to extend its competitive advantage
by forging strategic collaborations with aerospace original
equipment manufacturers (OEMs). Its joint venture with the
SAFRAN Group, a world leader in aircraft avionics, launched
a state-of-the-art avionics facility in Singapore. SIAEC also
opened a facility with Panasonic Avionics Corporation for the
repair and overhaul of in-flight entertainment systems, the
first in Asia.
In 2012, SIAEC’s facility in Singapore was appointed the
authorised repair centre of Aircelle, a key player in the global
engine nacelle market, and Messier-Bugatti-Dowty, a leading
OEM in landing and brake systems.
SIAEC officially opened its line maintenance station at
San Francisco International Airport, bringing its global line
maintenance network to 28 airports spread across seven
countries and territories - Singapore, Australia, United States,
Hong Kong, Indonesia, Vietnam and the Philippines.
Operating Review