ST Engineering wants to lease five Airbus aircraft to GlobalX

The first A321 aircraft will be converted and leased by the last quarter of 2022.

ST Engineering’s Aviation Asset Management unit has signed a Letter of Intent to lease up to five Airbus A321 Passenger-to-Freighter aircraft to Global Crossing Airlines (GlobalX).

According to ST Engineering, it will be acquiring five aircraft on its own or through joint venture companies.

The aircraft will then be converted and maintained at global facilities of ST Engineering with the first targeted to be converted by April 2022.

It will be placed on lease in the fourth quarter of 2022. The remaining four will be converted and leased to Global X progressively.

GlobalX is a US 121 domestic flag and supplemental airline, using the Airbus A320 family aircraft.

It intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.