Singapore sister company Saesl will take share of lucrative maintenance contract Swire Group associates Hong Kong Aero Engineering Services Ltd (Haesl) and a Singapore-based sister firm yesterday secured a US$600 million contract for maintenance work on the engines of the Emirates' fast-expanding fleet of aircraft. The three-year deal for overhaul and replacement work on the Dubai-based carrier's fleet of Rolls-Royce Trent engines will be split between Haesl and Singapore Aero Engine Services Ltd (Saesl), the first such contract for the island state firm. 'Our original deal was with Haesl but the rapid expansion of our fleet meant we would have been facing capacity limitations in Hong Kong so we needed to find an alternative within the region,' said Adel al-Redha, Emirates executive vice-president of engineering and operations. 'Haesl will get first option on the work but how the revenue is split over the next three years will entirely depend upon how much Haesl can handle and the turnaround times they offer.' Mr al-Redha said the US$600 million in revenue was not guaranteed but that he expected the target would be reached comfortably. 'We are expecting 60-plus engine removals next year alone,' he said. Emirates continued to stun the global aviation community at the weekend with the pace of its acquisition programme, committing at the Dubai Air Show to buy another 42 B777s for an aggregate list price of US$9.7 billion. The Middle East's biggest airline by sales two years ago stamped its name beside the industry's elite carriers with an audacious order for 43 A380s - the 555-seat giant from Airbus that was flown on its maiden tour of Asia earlier this month. However, neither of those new models will be powered by Rolls-Royce equipment. Emirates operates 60 aircraft that are powered by the British engine-maker. Mr al-Redha said engine replacements typically cost US$3 million to US$5 million, with the cost scaling down as services increase during the contract. The deal will guarantee an expanded and more diversified revenue stream for the Swire engineering firms for the next three years; Cathay Pacific Airways provided 46 per cent of the $2.15 billion in sales for Swire's jointly held Hong Kong Aircraft Engineering Company Limited (Haeco), and its subsidiaries, including Haesl, last year. 'Haesl has had a strong relationship with Emirates since they began operating Trent engines eight years ago,' Haesl and Saesl chairman John Patterson said. 'This new agreement will help Emirates to continue focusing on its core business, which has seen the airline achieve unmatched growth.' Rolls-Royce and Swire-controlled Haeco each own 45 per cent of Haesl, while SIA Engineering (SIAE) - an off-shoot of Singapore Airlines - owns the rest. SIAE controls 50 per cent of Saesl, with Rolls-Royce and Haesl controlling 30 and 20 per cent, respectively. Cathay Pacific Airways was founded in 1946 by two former second world war pilots.