Page 29 - AAA JANUARY- FEBRUARY 2013 Online Magazine

FEATURE SINGAPORE AVIATION

opportunity to maximise cash flow in
those important early phases. Singapore has been a hub for a long
With a comprehensive double tax time now, but the foresight of the Economic
avoidance agreement (better known as Development Board is seeing them not only
DTA) network that spans 67 countries,
Singapore means no double-whammy maintain but strengthen and grow Singapore’s
excises on lease arrangements for many place as the centre of the Asian aviation sector
other jurisdictions. It also offers a highly
competitive corporate tax rate of 17%,
which makes it the perfect location for – Tony Jones, COO, Asia, Hawker Pacific
aircraft and engine leasing companies
looking to tap into the expanding Asia
Pacific market.
All of the top 10 leasing companies
in the world have offices in Singapore. according to the EDB, with options from partnering with ATTC to deliver the WSQ
These include Aviation Capital Group, major players such as Boeing, Eurocopter Maintain Composites Structures course
with a fleet of over 240 aircraft consisting and Lufthansa all adding to the capacity module to address the industry’s future
of primarily Airbus A320s and Boeing for world-class education in a variety of composite aerostructures skills needs.
737s. Since 2010, the Singapore office specialist fields. For rotary trainees, Eurocopter’s very
has been actively expanding and booking The clustering of operations and first full-flight simulator for the Dauphin
assets to support its business in the Asia businesses at Seletar’s new Aerospace AS365 N3/N3+ helicopter is now running
Pacific. Furthermore, BOC Aviation, the Park provides economies of scale and courses for Southeast Asian pilots at
largest aircraft leasing company in Asia, an efficient value chain, with plenty of Seletar. Lufthansa Technical Training
has been servicing clients across the scope for new industry collaborations (LTT) has partnered with Temasek
region since 1993. through the park’s shared infrastructure, Polytechnic to jointly offer a diploma
Singapore is also looking ahead to and the close proximity of suppliers, course for Licenced Aircraft Engineers
expand its long-term capacity. The Changi customers and partners within a tightly (LAEs), also at Seletar, and Fokker
2036 Steering Committee is developing a knit aerospace business community. Services Asia is establishing a new
concept plan for the development of the An integrated aerospace park, it is Asia Pacific services facility, to provide
country’s Changi International Airport. dedicated to hosting existing and future integrated support for regional aircraft
This will see its first consultation-based activities, including MRO of aircraft and platforms. Its new hangar will be about
planning document being shared with components, FBO, manufacturing and 1.5 times larger than existing facilities.
key industry players next year, and more assembly of aircraft engines, business LTT also provides basic and aircraft type
detailed plans in coming years. and general aviation, pilot and mechanic maintenance training for aerospace
In terms of training, Singapore has training, and aviation R&D. technicians and engineers. Not far away,
also committed significant resources The government-sponsored the Boeing Flight Services training
to extending the development of its Workforce Development Agency (WDA) campus near Changi airport offers pilot
talent base to meet upcoming demand. is also pushing the aerospace wagon. training for the company’s latest 787 and
Aerospace courses and specialisations Looking ahead to the next generation 777 aircraft, plus a range of other types
offered at local technical and tertiary of aircraft that will increasingly use from other makers.
institutes remain “highly popular” lighter composite materials, the WDA is Overall, there is no doubt Singapore
offers a significant advantage in terms
of skills, facilities and infrastructure for
CuRRENCy ACCOuNT companies in the aviation and aerospace
The global economic downturn has been good news for customers looking industries. All that remains to be done
for a great deal – but at the same time, has negatively impacted Singaporean now is capitalise on it. As Minister Teo
aerospace companies. The 12.4% depreciation of the uS dollar against notes, the long term outlook for the
the Singapore dollar over the last two years has meant that significant industry remains positive.
productivity improvements were required in order for operators to maintain “Asia-Pacific anticipates strong
profitability. At present, the influence of factors such as foreign currency growth,” she asserts. “Asia-Pacific’s fleet
changes continues to tighten the screws on margins and makes productivity
a pressing issue, but companies such as Singapore Aero Engine Services size is anticipated to triple from 4,710
Private Limited, which is usually known as SAESL, have boosted productivity airplanes in 2011 to 13,670 airplanes in
by up to 25% to compensate. 2031.” Just a percentage of those would
make Singapore companies smile.
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