News

Aviation

Staff Reporter

, Singapore

Published:

4 months ago

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(From Left) Mr Wong Yue Jeen, Chief Commercial Officer of SIA Engineering Company, Mr Chin Yau Seng, Chief Executive Officer of SIA Engineering Company, Mr Stéphane Cueille, Chief Executive Officer of Safran Aircraft Engines, and Mr Nicolas Potier, Executive Vice President Support & Services of Safran Aircraft Engines, at the joint venture agreement signing event in Paris.

Singapore boosts LEAP engine MRO with SIAEC-Safran partnership

The deal lifts shop visit capacity and strengthens APAC maintenance footprint.

Singapore will expand its LEAP engine maintenance capacity after SIA Engineering Company Ltd (SIAEC) and Safran Aircraft Engines agreed to form a joint venture to provide maintenance, repair, and overhaul (MRO) services for CFM LEAP engines.

The agreement covers LEAP-1A and LEAP-1B engines and follows a letter of intent signed on 25 November 2025, according to a joint statement.

Under the deal, Safran Aircraft Engines will hold a 51% stake in the joint venture, whilst SIAEC will hold 49%.

SIAEC said the joint venture will integrate its existing LEAP Quick Turn maintenance operations at its Aircraft Engine Services facility in Changi North. It added that this will form the base for a larger LEAP engine MRO facility in Singapore.

The company said the expanded facility will increase shop visit capacity and widen maintenance scope as global demand for LEAP engines grows.

"The new LEAP MRO JV combines Safran Aircraft Engines’ OEM expertise and SIAEC’s MRO excellence, strengthening the LEAP maintenance network and enhancing SIAEC’s next-generation engine capability to meet global LEAP engine maintenance demand," said SIAEC chief commercial officer Wong Yue Jeen.

“The creation of this joint company with SIA Engineering Company marks a significant step forward in strengthening our global MRO ecosystem to meet the accelerating demand for LEAP engine maintenance in Asia-Pacific," added Safran Aircraft Engines executive vice-president of support and services Nicolas Potier.

The joint venture will have initial paid-up capital of $129.12 (US$100), split into 100 shares with SIAEC holding 49 shares at $63.27 (US$49).

Further contributions may follow in tranches, according to the media statement.

SIAEC will invest up to $74.63m (US$57.8m), including $17.69m (US$13.7m) in-kind, whilst Safran Aircraft Engines will contribute up to $77.73m (US$60.2m), bringing total planned investment to $152.36m (US$118m).

Completion is subject to regulatory approvals.

On a pro forma basis provided by SIAEC, earnings per share would have risen about 6.5% to 16.08 Singapore cents, whilst net asset value per share would have increased 0.6% to 157.9 cents.

($1.29 = US$1)

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