ST Aerospace secures new contracts
Neelam Mathews Oct 10, 2012 Given the high taxes throttling India's MRO industry, it might do India some good to learn from Singapore's MRO report card. ST Aerospace today announced it has secured new contracts worth about S$590m in the third quarter of 2012. This total contract value is in addition to the component repair management Maintenance-By-the-Hour (MBH) contract worth about US$80m (approximately S$102m) awarded by AirAsia in July this year. The contracts are for airframe, component and engine maintenance and engineering design support, which will be carried out through its global network. During the quarter, ST Aerospace redelivered its first VIP Boeing Business Jet, a contract secured for B level check and interior modifications. Additionally, it completed airframe maintenance and modification work for 156 aircraft. For passenger-to-freighter conversions, it redelivered three converted Boeing 757-200 freighters to FedEx Expres...