Five more A321P2Fs from Singapore
The Aviation Asset Management unit of ST Engineering has signed a LoI to lease up to five A321 passenger-to-freighter aircraft to Global Crossing Airlines (GlobalX), a new carrier from Miami. As part of end-to-end asset management solutions, the Singapore-based company will also provide maintenance services to these aircraft for GlobalX over the period of the lease.
ST Engineering will acquire the five A321 passenger aircraft on its own, subject to the signing of the definite agreements, or through its joint venture companies, and finance these aircraft through a mix of equity and non-recourse debt. They’ll be converted and maintained at ST Engineering’s global facilities, with the first A321 placed on lease in Q4/2022. The remaining four aircraft will be converted and leased to GlobalX progressively. (ah)