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SINGAPORE—SIA Engineering Company (SIAEC), through its subsidiary SIAEC Global, has successfully acquired a 30% stake in the enlarged share capital of Arport Aircraft Maintenance & Engineering (Fujian) (Arport AME).
The transaction is valued at CNY129 million ($19 million). Through the joint venture, SIAEC Global will provide line maintenance and ground services at airports in Xiamen, Fuzhou, Wuyishan and Longyan, as well as base maintenance services at Xiamen Gaoqi International Airport.
Arport AME is a subsidiary of IPORT Group, which owns and operates the four airports.
The two parties first signed a memorandum of understanding in September 2023, which was upgraded to a nonbinding framework agreement in November 2024.
However, Xiamen Gaoqi Airport is scheduled to close when the new Xiamen Xiang’an International Airport begins operations in late 2026.
“This transaction has taken into account Arport AME’s plans to move its operations to the new Xiamen Xiang’an International Airport, in line with plans for the overall transfer of airport operations at the existing Gaoqi Airport to the new airport,” SIAEC told Aviation Week.
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