SINGAPORE, February 6, 2018 - 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.