SINGAPORE --- Mainboard-listed SIA Engineering Company Limited ("SIAEC") today announced the signing of a Memorandum of Understanding ("MOU") with Safran to collaborate in the field of data analytics.
Under the MOU, both SIAEC and Safran will explore collaborating in the areas of research and development of software for predictive maintenance, to be used in the aviation industry. The deployment of advanced predictive software during aircraft operations will improve aircraft maintenance planning, and reduce unscheduled disruptions to aircraft revenue service.
Through this collaboration, both parties will be able to develop innovative aircraft maintenance solutions for their customers worldwide. In this partnership, Safran will provide its expertise in developing and deploying software and services, while SIAEC will contribute its extensive engineering and maintenance, repair and overhaul (MRO) experience.
The MOU is not expected to have a material impact on the financial performance of SIAEC in FY2017/18. None of the Directors of SIAEC has any interest, direct or indirect, in the MOU.
SIA Engineering Company (SIAEC) is a major provider of aircraft maintenance, repair and overhaul (MRO) services in Asia-Pacific. SIAEC has a client base of more than 80 international carriers and aerospace equipment manufacturers. It provides line maintenance services at 37 airports in 8 countries, as well as airframe and component services on some of the most advanced and widely used commercial aircraft in the world.
Safran is an international high-technology group and tier-1 supplier of systems and equipment in the Aerospace and Defense markets. Operating worldwide, Safran has nearly 58,000 employees and generated sales of 15.8 billion euros in 2016. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. Safran undertakes Research & Development programs to meet fast-changing market requirements, with total R&D expenditures of 1.7 billion euros in 2016.