SIA Engineering Company says it has signed an agreement with Pratt & Whitney to participate in its PW1000G Risk-Revenue Sharing Programme.

Pratt & Whitney, one of the world’s leading manufacturers of aircraft engines, is developing the PW1000G engine to power Next Generation Single-Aisle (NGSA) aircraft. The PW1000G engine, scheduled to enter service in 2013, has already been selected as the engine for the Bombardier CSeries aircraft and Mitsubishi Regional Jet (MRJ) aircraft.

SIA Engineering says it will participate in the PW1000G engine RRSP with a 3% stake in the CSeries aircraft engine programme and a 1% stake in the MRJ aircraft engine programme. To hold SIA Engineering’s investments in the CSeries and MRJ aircraft engine programmes, SIA Engineering has incorporated two special-purpose, wholly-owned subsidiaries, namely NexGen Network Holding and NexGen Network Holding.

As part of the long-term arrangement, Pratt & Whitney will designate Eagle Services Asia (ESA), a joint venture between SIA Engineering and Pratt & Whitney, as the first engine centre in the global RRSP MRO network for the PW1500G engine (the PW1000G engine variant that powers the CSeries aircraft).

ESA is poised to benefit from this designation. This arrangement will also provide feed to the SIA Engineering/Pratt & Whitney engine component repair joint ventures in Singapore.