The JV targets to build a portfolio valued at around US$600 million ($800 million) within five years. It will address the growing demand for freighter aircraft amid growing e-commerce and air cargo volumes across the world as it invests in passenger aircraft to be converted into freighters.
Singapore Technologies Engineering (ST Engineering) and Temasek Holdings have set up a 50-50 joint venture (JV) for freighter aircraft leasing on May 11.
The agreement was entered into by ST Engineering’s wholly-owned aviation asset management unit.
