Spirit AeroSystems and VAECO Sign Agreement for MRO Services in Vietnam
WICHITA, Kan. – Sept. 27, 2023 - Spirit AeroSystems, Inc., announced today the signing of a Maintenance, Repair and Overhaul service agreement through its subsidiaries with Vietnam Airlines Engineering Limited Company (VAECO) at the MRO Asia-Pacific Exhibition in Singapore.
VAECO is a subsidiary of the Vietnamese flag carrier, Vietnam Airlines, headquartered at Noi Bai International Airport in Hanoi.
Kailash Krishnaswamy, senior vice president of Spirit Aftermarket Services, said that this strategic collaboration allows Spirit Aftermarket Solutions to provide regional engineering support to VAECO.
“We expect the supply of materials to continue to disrupt Airframe MRO. Under this strategic collaboration, Spirit will bring its world-class engineering support to alleviate at least some of this pain,” Krishnaswamy said.
Established in 2009, Vietnam Airlines Engineering Limited Company (VAECO), with 2,500 workers, is the largest and most experienced aircraft maintenance service provider in Vietnam. The company is headquartered in Hanoi and runs two branches in Da Nang and Ho Chi Minh City, providing services to all airports in Vietnam.
Currently, VAECO operates six hangars equipped with modern docking systems, aircraft parking, spare part warehouses, and ground support equipment to carry out maintenance activities for multiple aircraft at the same time. With the target to become a leading MRO provider in APAC, the expanded capabilities and excellence in operation enable VAECO to target the demanding worldwide customers. With the Spirit agreement, VAECO will achieve its long-term growth ambitions.
Spirit AeroSystems Aftermarket Solutions has grown at over 20% in recent years. With the VAECO agreement, Spirit Aftermarket will now have 11 wholly owned, joint-venture or authorized repair centers around the world: in United States of America, Northern Ireland, Morocco, Jordan, India, China, Malaysia, Vietnam and Taiwan. In addition, Spirit has a strategic agreement with ST Engineering to serve select countries in the Middle East region.
Spirit AeroSystems, Inc. ("Spirit"), a subsidiary of Spirit AeroSystems Holdings, Inc. [NYSE: SPR] (“Spirit AeroSystems”).
On the web: www.spiritaero.com
On Twitter: @SpiritAero
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Media:
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Investor Relations: Ryan Avey
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About Spirit AeroSystems Inc.
Spirit AeroSystems is one of the world's largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company's core products include fuselages, integrated wings and wing components, pylons, and nacelles. We are leveraging decades of design and manufacturing expertise to be the most innovative and reliable supplier of military aerostructures, and specialty high-temperature materials, enabling warfighters to execute complex, critical missions. Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com.
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