ST Aerospace secures S$85mln contracts from T'Way Air

Two contracts involve repair and maintenance programmes for Boeing 737 as company provides comprehensive airlines support.

ST Engineering on Monday announced that its aerospace arm, ST Aerospace, has been awarded two maintenance contracts by T'Way Air. The first is for the Maintenance-By-the-Hour (MBHTM) component support of T'Way Air's Boeing 737-800, and the other is an engine maintenance programme for T'Way Air's CFM56-7B engines. The total value of both contracts is US$63m (about S$85m). Both contracts commence immediately and will stretch over 10 years.

The first contract involves a 10-year component MBHTM support programme that includes repair management and access to a stock of rotables on an exchange basis for T'Way Air's fleet of Boeing 737-800 aircraft, as mentioned in an ST Aerospace report.

The second contract involves engine maintenance support for T'Way Air's CFM56-7B engines powering the Boeing 737-800 aircraft. On an exclusive time-and-material basis, ST Aerospace will provide comprehensive engine maintenance and engineering support for T'Way Air's CFM56-7B engines over 10 years. ST Aerospace will be working closely with the airline's engineers for engineering support, including engines condition monitoring and engines removal planning.

"As T'Way Air embarks on a brand new journey, we need a reliable partner to ensure the efficient support of our growing fleet of aircraft. We selected ST Aerospace based on its strong emphasis on safety and quality, its ability to provide a wide range of services, and its established MRO network. We look forward to building a successful partnership with ST Aerospace as we grow our operations." ~ Duk Young YOON, President & CEO, T'Way Air

"We are indeed honoured to be selected by T'Way Air as its partner to support its component and engine maintenance requirements. T'Way Air's selection of ST Aerospace underscores its confidence in our commitment to provide high quality services and responsiveness in support of its growing operations. ST Aerospace is fully committed to building a successful partnership with T'Way Air as the airline embarks on its new journey and grows its operations, " Chang Cheow Teck, President, ST Aerospace, said.

These contracts validate the growing popularity of ST Aerospace's maintenance programmes for the Boeing 737 and Airbus A320 family of aircraft. ST Aerospace today provides comprehensive airframe, component and engine support for airlines in the Americas, Asia Pacific and Europe.

T'Way Air, based at Gimpo International Airport in South Korea, was first established in August 2005 as Hansung Airlines. The first official low-cost carrier in South Korea, T'Way Air is presently owned by Shinbo Investment Corporation and will res ume its operations in September 2010 under this new name. T'Way Air currently operates two Boeing 737-800 aircraft. T'Way Air plans to operate a total of three Boeing 737-800 aircraft within this year and intends to increase its fleet to nine by 2012. In addition to its domestic route within South Korea, T'Way Air plans to expand its network to include China and Japan.