Boeing Buys Stake In Asian Partnership
Boeing Commercial Airplane Group says it has bought into an Asian partnership to do aircraft maintenance and modifications for airlines.
For an $11 million investment, Boeing will become a 9.1 percent owner of Taikoo Aircraft Engineering Co. Ltd., an aircraft heavy-maintenance center based in Xiamen, China.
The center, which has been operating for 18 months, specializes in repairing, maintaining and overhauling Boeing 737s, 747s, and 757s.
Boeing said Monday the partnership will strengthen its relationships with several airlines that also are TAECO partners, including Cathay Pacific Airways, Singapore Airlines, Japan Airlines and the Civil Aviation Administration of China.