ST Engineering concludes sale of 11 narrowbody aircraft to Keystone

ST Engineering sold 11 new-generation and current-generation narrowbody aircraft by its Aviation Asset Management business to Keystone Holdings. The sale will allow the group to improve capital efficiency by reducing capital employed. Lease novation transactions related to the sale will be progressively achieved through end 2023. Keystone is a 50-50 joint venture between ST Engineering’s Commercial Aerospace and Sojitz Corporation. This sale is consistent with the Group’s strategy of working with partners to grow its Aviation Asset Management business, thereby enabling aircraft lifecycle asset management and support solutions to customers. Jeffrey Lam, commercial aerospace president, ST Engineering, said: “This transaction