SIA Engineering invests in new engine with Pratt & Whitney

Singapore’s SIA Engineering Co. (SIAEC) is making its first investment in the development of an aircraft engine. It is taking a small stake in a Risk-Revenue Sharing Program with aircraft engine maker Pratt & Whitney (P&W). P&W is building a next-generation engine for single-aisle aircraft. Signing the latest deal with P&W, SIAEC is recognizing the changing landscape in the maintenance, repair and overhaul (MRO) business. The company sees a growing trend among airlines entering exclusive deals with original equipment manufacturers (OEMs) for servicing. (January 18, 2010)(January 19, 2010)