OREANDA-NEWS. January 18, 2012. 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.