ST Aerospace secures S$590m in Q3 contracts

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ST Aerospace secured contracts worth about Singaporean dollars (S$) 590 million ($480 million) in the third quarter of 2012 after performing maintenance and modifications on 156 aircraft.

A significant contributor to the total was an $80 million, 10-year component management deal with AirAsia for 175 Airbus A320 aircraft. The companies signed the agreement at the Farnborough Air Show.

Also in the third quarter, ST Aerospace re-delivered its first VIP Boeing business jet after performing B-checks and interior modifications on the aircraft.

ST Aerospace also completed three Boeing 757-200 freighters in the quarter, which have been delivered to FedEx Express.

In addition to these aircraft re-deliveries, the maintenance company calculates that it saw 11,861 components come into its facility during the quarter, as well as 67 landing gears and 68 engines.