ST Aerospace bags $443m worth of contracts in Q1

Project wins almost doubled.

ST Aerospace reported that it hauled in $443m worth of new contracts in the first three months of the year, a far cry from $298m in contract wins that it reported in the same period last year.

The projects range from airframe maintenance and cabin interiors, to engine wash, and component repair and overhaul.

The 1Q2016 value has taken in Elbe Flugzeugwerke’s new orders for the first time, following the completion of the additional equity interest in the Dresden-based company in February this year.

Included in the 1Q2016 contracts are line and heavy airframe maintenance agreements for various customers, as well as cabin interior modifications for both commercial airlines and VIP customers.

ST Aerospace sector re-delivered a total of 524 aircraft for airframe maintenance and modification work in 1Q2016, compared to 250 aircraft in the same period last year.