ST Engineering to lease four Airbus A320/A321P2Fs to Raya Airways

ST Engineering’s aviation asset management business will lease four Airbus narrowbody Passenger-to-Freighter (P2F) aircraft consisting of two A320P2F and two A321P2F to a regional operator, Raya Airways Sdn Bhd (Raya Airways). Raya Airways’ Group Managing Director, Mohamad Najib Ishak, said, “The air cargo industry, being an integral part of the global supply chain, is expected to grow in tandem with the global economy. The recent industry outlook by the International Air Transport Association[1] states that cargo volumes are expected to set a record high of 68.4 million tonnes in 2022 with cargo revenues expected to account for US$191b of industry