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Singapore and Hong Kong sign enhanced aircraft maintenance MoU
Friday, August 29, 2008
The Civil Aviation Authority of Singapore (CAAS) and the Hong Kong Civil Aviation Department (HKCAD) signed an enhanced memorandum of understanding (MoU) on the maintenance of aircraft today. This agreement is an expansion of the MoU signed in December 2004 that allowed for both civil aviation authorities to recognise each other’s approvals given to maintenance, repair and overhaul (MRO) companies to maintain components of aircraft registered in the country, without the need to obtain separate approval. Today’s enhancement includes the recognition of maintenance of aircraft and engines, in addition to aircraft components.

Before the December 2004 agreement, MRO companies were required to obtain separate approval from the respective civil aviation authority and be subjected to the regulations, audits and standards of that country before they were allowed to maintain components of any aircraft registered in that country.

Director-General & Chief Executive Officer of CAAS, Mr Lim Kim Choon said, “The conclusion of this enhanced agreement not only demonstrates the close working relationship between CAAS and HKCAD, but also benefits both Singapore and Hong Kong’s aerospace industries by paving the way for new business opportunities and augmenting efficiency in regulation of aircraft maintenance.”

More than 75 MRO companies stand to reap the benefits of this enhanced MoU.

Vicky Karantzavelou - Friday, August 29, 2008
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Poll
How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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