Japan Airlines, HAECO, Toyota Tsusho and Sun Group to Collaborate on New Vietnam MRO
Four companies based in Southeast Asia recently announced a new joint venture to establish a new aviation MRO facility in Vietnam, located at Van Don International Airport.
The four companies in the joint venture are:
- Hong Kong Aircraft Engineering Company Limited (HAECO)
- SUN Group Corporation (Sun Group)
- Toyota Tsusho Corporation
- Japan Airlines Co., Ltd.
The agreement—featuring an investment of around $360 million—involves the four companies developing a new MRO complex for aircraft that adheres to all international standards.
As one of the biggest aviation maintenance locations in Vietnam at 20 hectares of space, the new facility will be able to host four widebody aircraft and two narrowbody aircraft, all at once.
With MRO activities in Southeast Asia largely centered in Thailand, Malaysia and Singapore, this new joint venture aims to spread MRO capabilities in the region.
According to the Civil Aviation Authority of Vietnam, the country's MRO market is projected to reach approximately $7.4 billion by 2030. Due to this rapid growth, goals of the new maintenance facility include:
- Closing structural supply/demand gaps
- Growing aviation maintenance reach in Vietnam
- Improving technical self-reliance in the region
To accomplish these objectives, the four companies are providing support like:
- HAECO: MRO expertise and advanced maintenance technologies
- Japan Airlines: Maintenance and operational expertise and human resources development
- Sun Group: Airport development and aviation infrastructure in Vietnam
- Toyota Tsusho: Global supply chain expertise and cross-border alliance business
In addition to bringing more MRO business to the area, the project is also helping to combat the technician shortage by creating around 1,000 new skilled jobs, including 200 foreign specialists.