ST Engineering Cancels Leasing JV

Singapore Technologies Engineering (ST Engineering) has confirmed the cancellation of its joint venture (JV) between its aerospace division and Wings Capital Partners.

Singapore Technologies Engineering (ST Engineering) has confirmed the cancellation of its joint venture (JV) between its aerospace division and Wings Capital Partners.

WingStar, the JV announced in 2013, was set up to acquire mid-life to end-of-life aircraft for lease, conversion or part out.

ST Engineering said the decision to terminate the JV was a mutual decision based on “a differing of views on the strategic focus and operations plans.”

Despite the reorganisation, ST Engineering said it remains committed to leasing aircraft and said it still plans to build up a fleet of mid-life and end-of-life aircraft comprised of A320 and 737 family aircraft.

TAGS: Asia Pacific
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