ST Aerospace, through its wholly owned subsidiary STA Engines, has injected an additional $4.05 million into Total Engines Asset Management (TEAM).
The company is an engine leasing joint venture between ST Aero and Marubeni.
This brings STA Engines' total share capital contribution in the venture to $8.21 million. The additional funding will support the expansion of the engine leasing business.
Established in Singapore, since June 2011, TEAM provides engine leasing services for CFM International's CFM56-3, CFM56-5B and CFM56-7B engines, which power narrowbody aircraft such as the Airbus A320 and Boeing 737.