newstodate.aero
OCT 15, 2003 (newstodate): Boeing plans to set up a maintenance and repair joint venture in Shanghai together with two local partners, which will be the first of its kind outside the United States.
Boeing will hold 51 percent in the US$100 million venture. The two Chinese investors in the venture, Shanghai Airport Authority and Shanghai Airlines Co Ltd, taking the remaining shares.
The new joint venture will offer maintenance services to Boeing aircraft operators in the Asia Pacific region from 2005, and plans to introduce conversion of passenger aircraft into freighters as well.
Boeing will hold 51 percent in the US$100 million venture. The two Chinese investors in the venture, Shanghai Airport Authority and Shanghai Airlines Co Ltd, taking the remaining shares.
The new joint venture will offer maintenance services to Boeing aircraft operators in the Asia Pacific region from 2005, and plans to introduce conversion of passenger aircraft into freighters as well.