ST Aerospace (ST Aero) has injected $634,000 in new capital into its engine leasing business, Total Engines Asset Management (TEAM), after securing a second customer for the joint venture with Japanese trading company Marubeni. TEAM buys engines from airlines and leases them back to the operator, usually with a ST Aero engine maintenance and support contract attached. Each transaction usually requires additional capital from TEAM’s shareholders to pay for the engine purchase, says an ...
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