Hong Kong Aircraft Engineering Company Limited

Hong Kong Aircraft Engineering Company Limited Overview

Company Headquarters: Hong Kong International Airport, Hong Kong

Founded: 1950

Workforce: ~16,000

Company Working: Hong Kong Aircraft Engineering Company Limited (HAECO) is one of the leading independent aircraft engineering and maintenance service groups. The firm mainly operates through its 17 subsidiaries and joint venture firms in Asia-Pacific and North America. It offers private jet solutions, inventory technical management, and fleet management services.

The key business operations of the company include airframe services, line services, component services, and engine services. Other operations of the company include inventory technical management, fleet technical management, cabin solutions, private jet solutions, freighter conversion, and parts manufacturing, among others. HAECO ITM Limited, Singapore HAECO Pte. Limited, and HAECO Private Jet Solutions, LLC are some of the subsidiaries of the company.

Strategy

Hong Kong Aircraft Engineering Company Limited is pivoting on contracts from major airlines in the US and other nations to improve its overall financial position. It is further focusing on expanding its business in emerging economies to increase its customer base.

Company Snapshot

$1,561M

Revenue

16,000

Employees

1950

Founded

Hong Kong International Airport, Hong Kong

Headquarters

SWOT Analysis

Strengths

Advanced MRO facilities
Significant industry experience

Weaknesses

Business offerings concentrated mainly in Asia and North America
Business offering concentrated mainly in Asia and North America

Opportunities

Growth opportunities in emerging economies
Diversified service offerings

Threats

Technology advancements by competitors
Intense competition
High costs of aftermarket component

Key Developments

Date	Approach	Development
March 2020	Acquisition	HAECO acquired Jet Engine Solutions, LLC, an engine MRO company based in the US. This acquisition enabled HAECO to strengthen its position in the global aviation engine MRO market.
May 2018	Agreement	HAECO signed an agreement with Philippine Airlines, Inc. (PAL) to provide engine component support services for PAL’s International Aero Engines IAE V2533 engines equipped on its Airbus A321 fleet.
April 2018	Expansion	HAECO Americas, a subsidiary of HAECO based in the US, inaugurated its new hangar at Piedmont Triad International (PTI) Airport in the US. The new hanger will offer maintenance services for narrow-body and wide-body aircraft. The development of the new hanger enabled the company to strengthen its presence in the North American aviation engine MRO market.
April 2018	Expansion	HAECO Americas opened its fifth MRO hangar at Piedmont Triad International (PTI) Airport.

Product Offering

Hong Kong Aircraft Engineering Company Limited
- Aviation Engine MRO
- Landing Gear Overhaul

Financial Performance

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