ST Aerospace injects capital into its engine leasing joint venture

ST Aerospace released that it has, through its wholly owned subsidiary, ST Aerospace Engines (STA Engines), injected an additional US$1.725m (approximately S$2.1m) into the capital of 50%-owned associated company, Total Engine Asset Management (TEAM). This brings STA Engines’ total share capital contribution in TEAM to US$3.425m (approximately S$4.18m). A joint venture between ST Aerospace and Marubeni Corporation, TEAM was set up in June 2011 to provide engine leasing services for CFM56-3, CFM56-5B and CFM56-7B engines that power narrow-body aircraft such as the Airbus A320 and Boeing 737.