ST Engineering and Temasek to set Up JV to capture strong demand for dedicated freighter aircraft

Singapore Technologies Engineering Ltd (ST Engineering) has announced that its wholly-owned aviation asset management unit has entered into an agreement with Temasek to set up a 50-50 joint venture (JV) for freighter aircraft leasing. The JV will address the growing demand for freighter aircraft as e-commerce and air cargo volumes expand across the globe. The JV targets to build a portfolio valued at about US$600m (or about S$800m) within five years, investing in passenger aircraft to be converted into highly efficient freighters. ST Engineering will provide the associated maintenance, repair and overhaul services to these aircraft. In addition, ST Engineering