January 2016
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AVIATION
Shareholding restructure
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AVIATION

HAESL Engine Overhual.jpg

Conditional agreements were entered into on 23rd November 2015 for the restructuring of shareholdings in Hong Kong Aero Engine Services Limited (“HAESL”) and Singapore Aero Engine Services Private Limited (“SAESL”). HAESL is to sell its 20% shareholding in SAESL to Rolls-Royce Singapore Pte Limited (“RRSE”) for US$270 million, subject to adjustment. The transaction will result in SAESL being owned 50% by SIA Engineering Company Limited (“SIAEC”) and 50% by RRSE. Meanwhile, Hong Kong Aircraft Engineering Company Limited (“HAECO”) and Rolls-Royce Overseas Holdings Limited (“RROH”) are to each purchase, and SIAEC to sell, a 5% interest in HAESL for US$58 million, subject to adjustment. The transaction will result in HAESL being jointly owned by HAECO (50%) and RROH (50%).

New livery
New livery
Network changes
Network changes
New Taipei lounge
New Taipei lounge
New service to Hongqiao
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Shareholding restructure
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SwireNews - Jan 2016
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