- We stay positive on ST Engineering (SGX:S63)’s growth trajectory after it announced a new exclusive MRO contract from Akasa Air for maintenance of the LEAP-1B engines that power the Indian airline’s Boeing 737 fleet. The contract covers its existing 25 planes and yet-to-be-delivered 201 aircraft.
- - Read this at SGinvestors.io -
New MRO contracts.
- - Read this at SGinvestors.io -
- Meanwhile, ST Engineering and Airbus’ Elbe Flugzeugwerke (EFW) JV is re-entering the Airbus A380 MRO market, conducting airframe heavy maintenance services in 4Q24 for a new customer’s (Global Airlines) first A380 aircraft – this is to facilitate its entry into service. EFW will be responsible for all scheduled maintenance, including mandatory inspections and component replacements.
- ST Engineering has also received A380 MRO orders from other customers and will expand its maintenance activities from 2025 for this aircraft type.
TransCore’s new contract win.
- Read more at SGinvestors.io.
Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2024-10-08
Previous report by RHB:
2024-09-18 ST Engineering - Rolling Forward Our Valuation; Reiterate BUY.
Price targets by 5 other brokers at ST Engineering Target Prices.
Listing of research reports at ST Engineering Analyst Reports.
Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividends & Corporate Actions,
ST Engineering News Articles
