Vietnam Airlines and ST Engineering Form Joint Venture for Aircraft Maintenance Services

Oct 2019

More than a year after the deal was inked between Vietnam Airlines Engineering Company (VAECO) and ST Engineering Aerospace, the firms officially introduced their newly incorporated joint venture company, Vietnam Singapore Technologies Engineering Aerospace (VSTEA).

VSTEA is currently the first and only joint venture company in Vietnam providing aircraft components maintenance and repair services to domestic and international airlines. It will also provide technical support for issues related to electrical components, electronics, wheels, brakes and safety equipment.

VSTEA is expected to become a leading player in the growing civil aviation industry in Vietnam and the larger Asia-Pacific region, which is forecasted to be one of the fastest growing regions and key contributor to the growth of the global civil aviation industry.

Based on a press release from ST Engineering, the joint venture company was set up with a paid-up capital of USD 3.9 million to provide component Maintenance, Repair & Overhaul (MRO) solutions. ST Engineering has a 49% stake on it, with the remaining 51% held by VAECO.

(Sources: Vietnam News; Vietnam Net Global; ST Engineering)

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