Hanoi (VNA) – Vietnam Singapore Technologies Engineering Aerospace Co. Ltd. (VSTEA) officially made its debut on September 26, becoming the first joint venture of its kind in the Vietnamese aviation market.

The company was jointly established by Singapore Technologies Engineering Aerospace and Vietnam Airlines Engineering Company (VAECO) following a Memorandum of Understanding on cooperation signed between the two sides on April 26 last year.

Necessary infrastructure will be built to enable VSTEA to carry out component maintenance, repair and overhaul (MRO) services at Vietnam Airlines’ existing maintenance facilities at Noi Bai International Airport in Hanoi and Tan Son Nhat International Airport in Ho Chi Minh City.

These facilities will be equipped to support such aircraft types as Airbus A320, Boeing 787 and ATR72 and offer MRO services on pneumatics, hydraulics, electrical components, wheels, brakes, and safety equipment.

General Director of Vietnam Airlines Duong Tri Thanh said the carrier believes the partnership will bring about win-win benefits in a potential aviation market and open up future cooperation for the two sides.

Lim Serh Ghee, President of Singapore Technologies Engineering Aerospace, said the company considers Asia a key destination and noted that its new joint venture will provide world-class MRO services, ensuring safe flight for airlines.

Vietnam Airlines is now operating 94 routes to 21 domestic and 29 international destinations with an average of 400 flights per day, connecting the world’s major cities to travel destinations in Vietnam, Laos, Cambodia, and Myanmar.

Singapore Technologies Engineering Aerospace has a global network covering America, Asia-Pacific, and Europe, serving MRO requirements of more than 15,000 airplanes since 1990./.