ST Aero secures $780 million in contracts in Q4 2013

Singapore
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ST Aerospace secured Singapore dollars (S$) 780 million ($613 million) worth of contracts in the fourth quarter of 2013.

Overall, the company redelivered 198 aircraft from airframe maintenance and modification work during the three-month period.

The Singapore-based MRO provider has also secured its first contract for the 15-pallet cargo configuration for its Boeing 757-200 Freighter conversion programme. This is for five aircraft.

It was also contracted by an unnamed Asian customer for the depot maintenance of its fleet of aircraft covering airframes, components and engines.

During the quarter, ST Aero won a cabin interior modification contract for 20 Boeing 767-300 aircraft. Its US affiliate meanwhile secured its first green aircraft completion contract from an undisclosed European-based VIP Boeing Business Jet customer for cabin reconfiguration work.

This quarter, a new narrowbody hangar, capable of accommodating two single-aisle aircraft, was added at its Changi facility. It also set up an aircraft leasing business during the quarter to focus on mid-life to end-of-life aircraft for leasing, conversion and part out.

The MRO has acquired six Cessna 172 training aircraft for its pilot training operations in Australia.

In terms of its other operations, ST Aero processed 10,985 components, 67 landing gear and 60 engines during the quarter, while it conducted 2,484 engine washes for both commercial and military customers.