September 24, 2012
HAECO and Cathay Pacific form joint venture
Hong Kong Aircraft Engineering Company Limited (HAECO) and Cathay Pacific Airways have teamed up to form a joint venture company, HAECO ITM Limited (HXITM) in Hong Kong, to provide inventory technical management services to Cathay Pacific, Dragonair, as well as other airline customers. HAECO ITM services primarily cover provisions and pool management of components inventory, management of component repairs/overhaul and engineering/reliability, supply chain management, and 24/7 AOG support. HXITM, 70%/30% owned by HAECO and Cathay Pacific respectively, will be managed by HAECO, with staff secondment from the existing HAECO ITM business and Cathay Pacific Engineering, combining the technical expertise and operational excellence from a leading airline group and a top-tier aircraft engineering service provider. The joint venture will take over HAECO’s existing aircraft component assets, combine it with Cathay Pacific’s existing inventory, to support both Cathay Pacific, Dragonair, and other airline customers.