28 Desember 2010

ST Engineering's Aerospace Arm Secures Boeing 757-200 Passenger-To-Combi Conversion Contracts

28 Desember 2010

NZ Airforce's Boeing 757 converted into multi-role combi configuration (photo : Aviation Week)

Singapore - ST Engineering today announced that its aerospace arm, ST Aerospace, has signed on its first commercial customer, Guggenheim Aviation Partners, LLC (GAP), to perform a passenger-to-passenger/cargo (combi) (PTC) conversion on a Boeing 757-200 aircraft for TNT Airways S.A. The aircraft is expected to be inducted into ST Aerospace's Singapore facility by end February 2011, and the converted aircraft is targeted for redelivery by end 2011.

This PTC conversion is ST Aerospace's first 757-200 combi conversion for a commercial customer. It has previously successfully designed and converted two Royal New Zealand Air Force's passenger aircraft into multi-role combi configuration. These two combi aircraft are currently in operational service.

Separately, ST Aerospace will also be working in tandem with the aerospace division of ST Engineering's US subsidiary, VT Systems, to undertake a PTC conversion programme, also for the Boeing 757-200 aircraft, for North American Airlines (NAA), a subsidiary of Global Aviation Holdings Inc. VT Systems' aerospace division and NAA entered into an agreement for the PTC conversion earlier this month.

VT Systems' aerospace division's maintenance, repair and overhaul (MRO) facilities in Mobile and San Antonio are managed by ST Aerospace as part of its global network of MRO facilities.

ST Aerospace will offer both GAP and NAA a complete solution - from engineering design to implementing the conversion of the passenger-carrying aircraft into a combi configuration at its MRO facilities.

As part of the agreements, ST Aerospace will obtain Federal Aviation Administration (FAA) and European Aviation Safety Agency Supplemental Type Certificates (STCs) for the PTC conversion. These STCs will be based on ST Aerospace's existing FAA-approved STC for the 757-200 Special Freighter passenger-to-freighter (PTF) conversion, which is to date the only STC developed based on Boeing's licensed passenger and freighter data.

These PTC programmes attest to ST Aerospace's strong engineering and design capability that complement its MRO expertise. ST Aerospace is a PTF Centre of Excellence and has performed numerous PTF conversions for the Boeing 727, 757-200, 767-300, DC10, MD10 and MD11 aircraft for almost two decades. Specifically for 757-200 PTF conversions, ST Aerospace has redelivered 50 converted aircraft to date, with a backlog of 56 aircraft.

These agreements are 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.


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