SIA Engineering Company and Safran Aircraft Engines have signed an agreement to form a joint venture in Singapore to provide maintenance, repair and overhaul services for CFM LEAP engines. The deal covers the LEAP-1A and LEAP-1B variants and was confirmed in official company disclosures on 5 and 6 June 2026.
Under the arrangement, Safran Aircraft Engines will hold 51% of the venture and SIAEC 49%. The new company will be established with an initial issued and paid-up capital of US$100, with further contributions to follow in tranches. Business Times reported the venture at US$118 million, with SIAEC contributing up to US$57.8 million and Safran up to US$60.2 million.
The agreement follows a letter of intent signed on 25 November 2025 to deepen LEAP maintenance support in Singapore. Safran said the venture will expand its global LEAP maintenance ecosystem, while the new shop is expected to add regional MRO capacity for the widely used narrowbody engine family.