ST Engineering, Temasek to set up joint venture for freighter aircraft leasing Toggle share menu
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ST Engineering, Temasek to set up joint venture for freighter aircraft leasing
A fully converted Airbus A321 freighter plane is pictured at an ST Engineering hangar in Singapore December 2, 2020. REUTERS/Edgar Su
11 May 2021 10:04PM (Updated:
11 May 2021 10:10PM) Share this content
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SINGAPORE: Singapore Technologies Engineering s aviation asset management unit has agreed to set up a joint venture with Temasek for freighter aircraft leasing, amid growing demand for freighter aircraft as e-commerce and air cargo volumes rise.
The joint venture aims to build a portfolio valued at about US$600 million (S$795 million) within five years, said ST Engineering in a news release on Tuesday (May 11). The joint venture will invest in passenger aircraft to be converted into freighters.
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By Readers hoping to buy
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The Straits Times
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