ST Engineering signs LOI to lease up to five A321P2Fs to Global Crossing

ST Engineering has signed a Letter of Intent by its Aviation Asset Management unit to lease up to five Airbus A321 Passenger-to-Freighter (P2F) aircraft to Global Crossing Airlines (GlobalX). As part of end-to-end Aviation Asset Management solutions, ST Engineering will also provide maintenance services to these aircraft for GlobalX over the period of the lease. Subject to the signing of definitive agreements, ST Engineering will acquire the five Airbus A321 passenger aircraft on its own or through its joint venture companies, and finance these aircraft through a mix of equity and non-recourse debt. These aircraft will be converted and maintained