SINGAPORE (Oct 28): SIA Engineering has set up a joint venture company — Heavy Maintenance Singapore Services — with Airbus S.A.S. to provide airframe maintenance, cabin upgrade and modification services for Airbus A380, A350 and A330 aircraft families. SIAEC will hold a 65% stake in HMS Services, while Airbus will hold the remaining 35% stake. Following this transaction, SIAEC will have 25 joint ventures in eight countries, with leading OEMs and other strategic partners. Shares of SIA Engineering closed 2 Singaporean cents lower at S$3.69.

Source: The Edge Markets October 28, 2016 12:08 UTC