SR Technics and Vietjet Air sign a Memorandum of Understanding worth US$150 million
SR Technics, one of the world’s leading providers of technical solutions to airlines, and GMF AeroAsia announced today that they had entered into a five-year agreement in which both parties will work together to develop the engineering and maintenance repair overhaul (MRO) capabilities of GMF AeroAsia, while also collaborating further on MRO and joint network initiatives. This agreement strengthens SR Technics’ position as a long-term provider of MRO services on the Asian market.
The agreement follows the signing of a separate five-year contract between SR Technics and GMF AeroAsia, which commits them to work together to provide component support for the Garuda Indonesia, Indonesia’s flag-carrier, Boeing 737 fleet. Both agreements were witnessed in a signing ceremony at the Singapore Airshow.
SR Technics’ interim CEO Jeremy Remacha commented: “This agreement enhances our existing long-term partnership with GMF AeroAsia. Together we have established a stronger presence in the Asia region. As a strategic partner we support GMF AeroAsia in the joint initiatives to further develop engineering capabilities in this fast growing region. Ultimately, these initiatives will benefit both our organisations by enabling the provision of ever improving, value adding products and services to our customers.”
Speaking on behalf of GMF AeroAsia, President and CEO Richard Budihadianto said: “We are pleased to work with SR Technics in this partnership. We have a long standing relationship with them and we continue to collaborate on strategic initiatives together. This agreement symbolizes how we will further develop our engineering capabilities and utilize the extensive MRO capabilities and networks of both companies to develop the market in the Asian Pacific region.”