HAECO Signs Memorandum of Understanding with Cathay Pacific Airways on Airframe Inventory Technical Management

Hong Kong Aircraft Engineering Company Limited ("HAECO") has entered into a memorandum of understanding with Cathay Pacific Airways Limited ("CX") in relation to the management of the CX group's airframe rotable components.

The transaction is expected to yield benefits in component asset utilisation, pool synergy, business scalability, supplier relationships, and physical component repair capability development opportunities, putting HAECO in a strong position to secure potential customers in the Asia Pacific region where strong growth is expected. The HAECO Inventory Technical Management ("ITM") business is based in Hong Kong, with excellent logistics infrastructure and freight network coverage to serve airline needs around the world.

"We are delighted to have reached a significant milestone with Cathay Pacific, strengthening the strategic position of this business in our portfolio," said Mr. Augustus Tang, HAECO's CEO.

About Hong Kong Aircraft Engineering Company Limited ("HAECO")
HAECO is one of the world's leading aeronautical engineering groups providing a comprehensive range of services encompassing Airframe Maintenance, Cabin Reconfiguration / Integration Services, Cabin Completion Centre / Design Engineering, Freighter Conversion, Parts Manufacturing, Line Maintenance, Fleet Technical Management, Inventory Technical Management, Component Services, Engine Overhaul and Technical Training. The HAECO Group consists of 15 subsidiaries and affiliates, employing over 13,000 staff in Hong Kong, Mainland China, Singapore and Bahrain. HAECO is publicly listed on the Hong Kong Stock Exchange (Stock Code: 00044). HAECO's website: www.haeco.com