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ST Engineering unit wins US$600m aircraft maintenance contract
ST Engineering on Monday said that its aerospace unit has signed a US$600 million contract to provide aircraft heavy maintenance services to a major North American operator.
ST Engineering will support the operator, an existing customer, on a fleet of over 160 wide-body and narrow-body aircraft starting in 2020 for a period of 10 years.
The firm said that under the "long-term strategic alliance", ST Engineering can offer a fleet reliability programme that monitors the health of each aircraft, and recommend maintenance actions to address identified issues before they impact the airline's operational reliability.
Shares of ST Engineering closed on Monday at S$3.79, up six Singapore cents.