ST Aerospace clinches projects worth $600m in Q3

ST Aerospace clinches projects worth $600m in Q3

SINGAPORE - Technologies Aerospace, an arm of Singapore Technologies Engineering, clinched $600 million worth of new orders in the third quarter, with projects including freighter conversions, cabin retrofitting as well as airframe, component and engine maintenance.

In a press release issued, the group said that one of the contracts secured in Q3 was an order of 17 passenger-to-freighter (PTF) conversions for an international air cargo carrier.

This takes the total number of aircraft under ST Aerospace's Boeing 757-200 PTF conversion programme to 119.

ST Aerospace also received a cabin reconfiguration project from an Asia-based airline to work on two Boeing 767-300 aircraft. Separately, it was awarded a Supplemental Type Certificate (STC) by the European Aviation Safety Agency for a full cabin retrofit of six Airbus A330 aircraft for an international carrier.

In Q3, ST Aerospace redelivered a total of 245 aircraft for airframe maintenance and modification works as well as redelivered five Boeing 757-200 converted freighters. Aside from airframe redeliveries, "the aerospace sector processed 11,360 components, 59 landing gears, 57 engines and conducted 1,570 engine washes for both commercial and military customers".

ST Aerospace is also trying to widen its reach by growing its engine leasing and pilot training sectors. Its wholly owned subsidiary, ST Aerospace Engines, recently ploughed additional capital into Total Engines Asset Management (TEAM), in which it holds a 50 per cent stake. TEAM has placed out 10 engines so far. It has also expanded its leasing portfolio to include the International Aero Engines V2500 engine.

Meanwhile, its commercial pilot training academy has been certified by the Civil Aviation Authority of Singapore (CAAS) as a Type Rating Training Organisation, enabling the academy to carry out aircraft type conversion training leading to CAAS type ratings.

A fixed-based Airbus A320 FFT X™-MPL simulator has been commissioned at its training academy at Seletar Aerospace Park. With a fully type-specific cockpit, the simulator is designed to support multi- crew pilot licence (MPL) Phase II training.

Shares in ST Engineering closed at $4.20, up three cents.

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