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ST Aerospace injects capital into its commercial pilot training business
ST Engineering's aerospace arm, ST Aerospace, has through its subsidiary ST Aerospace Engineering, injected US$4.87 million into the capital of its commercial pilot training business, ST Aerospace Academy (STAA).
This would bring ST Aerospace Engineering's total equity investment in STAA to US$12.98 million.
"The capital injection affirms ST Engineering's confidence in the commercial pilot training business and the continued investments to grow its pilot training capacity and capabilities to support the rising demand globally," it said.
This is not expected to materially impact ST Engineering's consolidated net tangible assets per share and earnings per share for the current fiscal year.