SINGAPORE—Boeing Asia Pacific Aviation Services (BAPAS), a joint venture between Boeing Singapore and Singapore Airlines Engineering Company (SIAEC), will be ending its operations in August due to “challenges arising from the changing business environment,” SIAEC said in an announcement.
The company, majority 51% held by Boeing Singapore, was incorporated in Singapore in October 2015 to provide fleet management services for airline operators of the Boeing 737, 747, 777 and 787 aircraft in the region. Most of these aircraft were operated under the SIA group, namely the former regional carrier SilkAir and LCC Scoot.
BAPAS’ last major overseas announcement was in September 2019, when it secured a fleet material solution contract with Myanmar National Airlines’ 737-800s.
The pandemic has also forced SIA to dispose of four 777-200ERs; SIA will also be disposing of four 777-300ERs earlier than expected.
SIAEC told Aviation Daily that pre-pandemic it managed more than 100 aircraft for fleet/inventory technical management and maintenance operations. Following the BAPAS cessation, the bulk of the work will be distributed between Boeing and SIAEC.
SIAEC added that the development will not have any material impact on its net tangible assets per share or its earnings per share in the current fiscal 2022/23 period.
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