SIA to leave PW1500G risk-revenue sharing programme

The SIA engineering company (SIAEC), a major provider of MRO services in the Asia-Pacific region, has entered into an agreement with Pratt & Whitney to exit from the PW1500G engine risk-revenue sharing programme (RRSP) that was held through its wholly-owned subsidiary, NextGen Network (2) (NGN2). NGN2 invested in the RRSP in 2010, bringing derived benefits for Eagle Services Asia Private (ESA), a joint venture between Pratt & Whitney (51%) and SIAEC (49%) in Singapore. Under the agreement, ESA received new engine capability and MRO work, alongside relevant investment support grants related to the development of new engine capability. SIAEC explains