STA Engines Injects $4.05m Into TEAM

ST Aerospace Engines, a subsidiary of ST Aerospace, has injected its pro rata share of an additional $4.05m into the capital of its 50 per cent owned associated company, Total Engines Asset Management (TEAM), bringing its total share in the company to $8.21m. TEAM is a joint venture company, with Marubeni Corporation being the other partner. Under ST Aerospace Engines’ agreed financing model capital injection is initiated every time TEAM secures a new engine leasing contract, ensuring that lease returns are generated. TEAM provides engine leasing services for CFM56-3, CFM56-5B and CFM56-7B engines that power the A320 and 737.

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