HAECO
Hong Kong-based MRO group owned by Swire Pacific, with airframe operations in Hong Kong and Xiamen and an international engine-service network.
Business at a glance
Hong Kong-based MRO group owned by Swire Pacific, with airframe operations in Hong Kong and Xiamen and an international engine-service network.
Footprint: Airframe services, engine services (including its engine overhaul joint ventures) and component and other services, reported inside Swire Pacific’s Aviation Division.
Latest figures
Source: Swire Pacific H1 2026 report, pages 27–31. Hong Kong dollars. Recurring attributable profit excludes non-recurring items; disposal affects comparisons.
Operating detail
Six months ended 30 June 2026 · Swire Pacific interim report
- Engine overhauls
- HAESL joint venture: 191; Xiamen: 48. Different ownership scopes.
- Airframe footprint
- Hong Kong and Xiamen; the US airframe business was sold in November 2025.
- Xiamen development
- Xiangan facility scheduled for late 2026 in the interim report; opening was a plan.
Performance over time
Calendar years · year ended 31 December
HAECO group figures in HK$ million from Swire Pacific’s annual results. Recurring profit excludes items Swire Pacific treats as non-recurring.
Revenue
Recurring profit
Attributable profit
Charts use annual results. Gaps indicate values the company does not publish on the same basis; the table shows the annual series.
Full-year history
Values as published by the company, in HK$ million unless stated. Scroll horizontally on smaller screens.
| Indicator / unit | 2023 | 2024 | 2025 |
|---|---|---|---|
| RevenueHK$m · Financials | — | 21,662 | 23,856 |
| Recurring profitHK$m · company-defined · Financials | 465 | 672 | 1,165 |
| Attributable profitHK$m · Financials | — | 399 | 936 |
What the numbers say
Recurring profit has more than doubled in two years, from HK$465m in 2023 to HK$1,165m in 2025, on revenue up 10% in 2025 to HK$23.9bn.
Attributable profit, after non-recurring items, rose from HK$399m to HK$936m.
Sources and comparability
- 2023 recurring profit is from Swire Pacific’s 2024 results release; revenue and attributable profit for 2023 are not in the documents used.
- Recurring and attributable profit differ by items Swire Pacific classes as non-recurring.
What drives the MRO business
Engine overhaul demand.
Airframe work in Hong Kong and Xiamen.
The gap between recurring and attributable profit.
Source and method
This profile uses the company’s own published figures. Most MRO businesses are reported as a segment of a larger group, in that group’s currency and financial year. Segment figures are shown as reported; they are not added to or compared with group totals. Values that are not disclosed are left blank rather than estimated.
Read the latest official results ↗Next results date: earnings calendar.
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