ST Engineering, Temasek in JV to build US$600m portfolio of freighter aircraft

Singapore

ST Engineering's wholly-owned aviation asset management unit has signed an agreement with Temasek to set up a 50-50 joint venture (JV) for freighter aircraft leasing.

The JV targets to build a portfolio valued at about US$600 million within five years, investing in passenger aircraft to be converted into highly efficient freighters. This is to address the growing demand for freighter aircraft as e-commerce and air cargo volumes expand across the globe.