The signing ceremony was witnessed by Prime Minister Nguyen Xuan Phuc and Singapore's National Development Minister Lawrence Wong on April 26. It took place at the Vietnam-Singapore Business Forum held at the Fairmont Singapore.
The two companies have also entered into a 14-year component Maintenance-By-the-Hour (MBH™) contract that will support the airline’s whole fleet of 58 A321CEOs and 20 A321NEOs, including other A321s that will be delivered, in component maintenance starting from mid-2018. Under the MBH™ contract, ST Aerospace will set up an inventory base in Vietnam to provide timely services to Vietnam Airlines' fleet.
The JV, to be headquartered at Noi Bai International Airport in Hanoi, will cater to Vietnam Airlines’ requirements and the region’s rising needs in aircraft MRO services.
It will start with support for a wide range of technology groups including pneumatics, hydraulics and electrical components, before potentially increasing the collaboration to include aerostructure and airframe MRO.
The partnership will leverage Vietnam Airlines’ maintenance subsidiary, Vietnam Airlines Engineering Company (VAECO)’s existing facilities in Hanoi and Ho Chi Minh City, as well as ST Aerospace’s core expertise in MRO to develop these facilities and their capabilities.
The cooperation will also help Vietnam Airlines shorten the time of maintenance and repairs as the process will be conducted in Vietnam, rather than having to send it abroad as before, thus saving costs and bringing higher operational efficiency.
Vietnam Airlines delighted to partner with ST Aerospace to establish a joint venture as well as to provide MRO support for the A321 aircraft family, which is the majority of our fleet, according to Dang Ngoc Hoa, Executive Vice President of Vietnam Airlines.
“This partnership not only improves our fleet efficiency and world-class service quality, but also represent a major step forward for Vietnam’s aviation industry in general, contributing to the boost of bilateral economic, trade and aviation relations between Vietnam and Singapore,” Hoa added.
Improving the operational efficiency of the Airbus A321 fleet - the largest fleet of Vietnam Airlines - is a part of the company’s fleet development strategy. In October 2017, Vietnam Airlines and American aerospace manufacturer Pratt & Whitney signed a contract of the selection of aircraft engines and support services for its 20 Airbus A321NEO. Vietnam Airlines has also localized its pilot training for the Airbus A321 with the recent purchase of two of Canadian Aviation Electronics Inc.’s most advanced A320/321 simulators to meet the company’s growing demand.
: Vietnam Airlines and ST Aerospace sign MOU and Multi-year MBH contract.
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The JV, to be headquartered at Noi Bai International Airport in Hanoi, will cater to Vietnam Airlines’ requirements and the region’s rising needs in aircraft MRO services.
It will start with support for a wide range of technology groups including pneumatics, hydraulics and electrical components, before potentially increasing the collaboration to include aerostructure and airframe MRO.
The partnership will leverage Vietnam Airlines’ maintenance subsidiary, Vietnam Airlines Engineering Company (VAECO)’s existing facilities in Hanoi and Ho Chi Minh City, as well as ST Aerospace’s core expertise in MRO to develop these facilities and their capabilities.
The cooperation will also help Vietnam Airlines shorten the time of maintenance and repairs as the process will be conducted in Vietnam, rather than having to send it abroad as before, thus saving costs and bringing higher operational efficiency.
Vietnam Airlines delighted to partner with ST Aerospace to establish a joint venture as well as to provide MRO support for the A321 aircraft family, which is the majority of our fleet, according to Dang Ngoc Hoa, Executive Vice President of Vietnam Airlines.
“This partnership not only improves our fleet efficiency and world-class service quality, but also represent a major step forward for Vietnam’s aviation industry in general, contributing to the boost of bilateral economic, trade and aviation relations between Vietnam and Singapore,” Hoa added.
Improving the operational efficiency of the Airbus A321 fleet - the largest fleet of Vietnam Airlines - is a part of the company’s fleet development strategy. In October 2017, Vietnam Airlines and American aerospace manufacturer Pratt & Whitney signed a contract of the selection of aircraft engines and support services for its 20 Airbus A321NEO. Vietnam Airlines has also localized its pilot training for the Airbus A321 with the recent purchase of two of Canadian Aviation Electronics Inc.’s most advanced A320/321 simulators to meet the company’s growing demand.
