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  • ​ST Engineering commits funding to boost leasing business

​ST Engineering commits funding to boost leasing business

Singapore Technologies Engineering has disclosed that its aerospace arm will inject $19.5 million to support the group's leasing business.

The capital, funded through internal cash, will be used by ST Engineering Aerospace Resources for the purchase of aircraft assets, says its parent.

ST Engineering's share-capital contribution in STEA Resources has now reached $49 million. The group estimates the net asset value of its leasing unit at $53.7 million.

Cirium's Fleets Analyzer lists STEA Resources as the manager of four Airbus A320s, two A321s and two 737-800s.

The A320s, aged between seven and 15 years old, are variously operated by Air China, Bangkok Airways, Ural Airlines and Volaris. One of the A321s is 2.8 years old and in service with VietJet Air; the other, 18.5 years old and with Jetstar. The 737s are 9.3 and 14.5 years old, and respectively operated by Shandong Airlines and Virgin Australia.

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