SIA, JAS set up joint venture

SIA, JAS set up joint venture

SINGAPORE: Singapore Airlines' (SIA) engineering arm will set up a joint venture with an Indonesian partner to provide aircraft line maintenance services at airports in Indonesia, the carrier said Monday.

Mainboard-listed SIA Engineering Co. will take a 49 percent stake in PT Jas Aero-Engineering Services while its partner PT Jasa Angkasa Semesta (PT JAS) will hold the remaining 51 percent, SIA said in a statement.

"We are very pleased to partner PT JAS, which has an excellent reputation in airport ground handling services and an extensive presence in Indonesia," said SIA Engineering chief executive William Tan.

"Coupled with our experience and extensive coverage in aircraft certifications, we look forward to providing customers with a high level of technical services and dispatch reliability at major Indonesian airports."

The joint-venture has a paid-up capital of four million U.S. dollars and is subject to approval from the Indonesian government.

It will operate at 10 major airports in Indonesia including Jakarta, Denpasar, Surabaya and Medan, providing aircraft line maintenance services to international and domestic carriers. -- AFP