ST Engineering's aerospace arm wins $920 million worth of new contracts in Q2

Singapore Technologies (ST) Engineering announced on Thursday that its aerospace arm has secured new contracts worth S$920 million in the second quarter of 2015.
Singapore Technologies (ST) Engineering announced on Thursday that its aerospace arm has secured new contracts worth S$920 million in the second quarter of 2015. PHOTO: ST AEROSPACE

SINGAPORE - Singapore Technologies (ST) Engineering announced on Thursday that its aerospace arm has secured new contracts worth S$920 million in the second quarter of 2015.

The new orders involve projects ranging from airframe, component and engine maintenance, to engine wash and pilot training.

ST Aerospace has a heavy maintenance agreement for six Airbus A319 aircraft belonging to an international airline, as well as several Boeing 737NG landing gear overhaul and exchange contracts for airline operators in Asia and Oceania.

It also has a three-year contract with Tigerair Singapore to provide simulator training services.

The total contract value includes a recently announced component maintenance-by-the-hour contract worth more than US$100 million (S$134.8 million) awarded by Flybe, and the engine maintenance contract worth around US$350 million from Jet Airways.

"The above developments are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year," the company said in a release.

rachaelb@sph.com.sg