Singapore Airlines 2015 Annual Report Download - page 37
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SIAEC posted a net profit of $185 million for the
financial year ended 31 March 2015. Revenue
was $1,119.7 million, a decrease of $59 million
or 5 per cent. Airframe and component overhaul
revenue declined with fewer heavy checks,
partially mitigated by higher fleet management
revenue. Share of profits of associated and
joint venture companies fell $55 million to
$108 million. The contributions from the engine
repair and overhaul centres decreased by
$57 million with reduced engine shop visits,
arising from engine improvement modifications
as well as an extension of the “on-wing” life of
certain models and the continuing retirement
of the older engine models.
SIAEC remains a competitive player at Changi
Airport, maintaining a strong revenue stream
from its line maintenance business. Beyond
Singapore, the Company is focused on growing
its line maintenance international network, which
currently serves more than 80 airlines worldwide
at 34 airports in seven countries.
The engineering subsidiary continues to extend
the depth and breadth of its maintenance, repair
and overhaul (MRO) capabilities. Leveraging on
its deep bench strength of more than a thousand
engineers, SIAEC supported the Entry into Service
(EIS) of SilkAir’s 737NG and Scoot’s 787 Dreamliner
SIA
Engineering
Company
SIAEC MANAGES
A FLEET OF
181
aircra
SERVES
MORE THAN
80
airlines
worldwide
Subsidiaries
SIAEC remains a competitive player
at Changi Airport, maintaining a
strong revenue stream from its line
maintenance business.
Singapore Airlines | Annual Report FY2014/15 | 35