Hanoi, Vietnam – Today, the U.S. Trade and Development Agency signed a grant with Vietnam Airlines Engineering Company (VAECO), supporting the development of a strategic business plan to expand Maintenance, Repair and Overhaul (MRO) operations in Vietnam. This work will lead to less aircraft downtime, safer flights, and improved operational efficiencies throughout Vietnam’s aviation network. As a subsidiary of state-owned Vietnam Airlines, VAECO provides engineering and MRO services to Vietnam Airlines’ fleet and other airlines that operate in Vietnam.
VAECO has selected Oliver Wyman (New York, NY) to carry out the technical assistance and develop short, medium, and long-term strategies for VAECO to expand services and increase its competitiveness in the Asia-Pacific regional market. Oliver Wyman is a leading management consulting firm with substantial experience working with the world’s leading airlines and MRO providers.
“This project builds upon USTDA’s long history of supporting Vietnam’s efforts to improve aviation safety and efficiency as flight traffic in the country continues to increase,” said USTDA’s Country Manager David Ross at the signing ceremony. “We are pleased to partner with VAECO and to support U.S. technical experts who will assist with the development of the strategic MRO business plan.
“With the foreseen rising demand of aircraft maintenance in the next decade in Asia Pacific, MROs need to find out how to capture their opportunities,” said VAECO President Mai Tuan Anh. “Thanks to the funding of USTDA, VAECO has the chance to set up a long-term business plan to expand our capabilities in providing high quality maintenance services to the customers in the region. This grant also helps to develop the aviation business in Vietnam.”
The grant was signed at a ceremony in VAECO’s office near Noi Bai International Airport in Hanoi by David Ross and VAECO’s President Mai Tuan Anh.