Singapore Airshow, Singapore, Feb 14, 2012 - ( JCN Newswire ) - Singapore Technologies Engineering Ltd's (ST Engineering) aerospace arm, ST Aerospace today announced it has been awarded a contract to support South Korean low fare airline Eastar Jet's CFM56-7B engines over 10 years. With a contract value of about US$15m (S$18.8m) per year, the agreement covers Eastar Jet's current fleet of six Boeing 737 Next-Generation aircraft as well as the additional Boeing 737 Next-Generation aircraft that Eastar Jet would be introducing into the fleet. Eastar Jet plans to increase its Boeing 737 Next-Generation fleet to 26 by 2021.
Under the agreement, ST Aerospace will provide Eastar Jet with an integrated suite of engine maintenance, repair and overhaul (MRO) services including off-wing engine maintenance support, on-wing services, technical support and spare engine support. Eastar Jet's engines will be maintained by ST Aerospace's engine facilities located in Singapore and Xiamen, China.
Since it started its first commercial flight in January 2009, Eastar Jet has successfully expanded its international operations to include Cambodia, Japan, Malaysia, and Thailand. It will cover more new destinations under its fleet expansion plan.
This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the world's largest aircraft MRO provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 8,000 engineers and technical specialists. Please visit www.staero.aero.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of $5.98b in FY2010 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 23 countries and 41 cities. Please visit www.stengg.com.
Contact:
ST Engineering
Lina Poa
SVP, Corporate Communications
Tel: +65-6722-1883
Fax: +65-6720-2293
Email: linapoa@stengg.com
Belinda Ng
AVP/Head, Corporate Communications
Tel: +65-6380-6176
Fax: +65-6280-8213
Email: belindang@stengg.com
About Singapore Airshow
Singapore Airshow, a marketplace and networking powerhouse for the world's aviation community, is a must-attend event in the global aerospace and defence calendar. Organised and managed by Experia Events, the biennial event is also a platform for high-level conferences dedicated to leading players in the global aviation industry with the Singapore Airshow Aviation Leadership Summit (SAALS) as well as co-located events - the A*STAR Aerospace Technology Leadership Forum and the Singapore Aerospace Technology and Engineering Conference (SATEC). For more information, visit www.singaporeairshow.com.
About Experia Events Pte Ltd
Experia Events specialises in organising and managing exhibitions and conferences of strategic interest, fostering industry development and thought leadership. It has built a strong portfolio in aerospace and defence with the highly successful Singapore Airshow, Asia's largest and one of the most important aerospace and defence exhibitions in the world, and IMDEX Asia, the premier international maritime defence exhibition in Asia, and Rotorcraft Asia, the premier dedicated event for the global civil helicopter industry. Its expertise also extends to the government and lifestyle sectors, through key events such as the Singapore International Water Week and World Cities Summit. With a proven track record underscoring its aspirations to stage events that influence, Experia Events aims to diversify its range of strategic events globally. For more information, visit www.experiaevents.com.
Source: ST Engineering (XETR: SJX) (OOTC: SGGKY) (XSES: STE) (XSES: S63) (OOTC: SGGKF) (XSES: STEG)
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