Gregory Polek has spent his entire career in aviation journalism with AIN, starting as a proofreader and assistant to then-managing editor Mary Mahoney in 1995 after serving an internship with&nbsp;New Jersey Monthly&nbsp;magazine and completing his B.A. degree in English/Writing at New Jersey’s William Paterson College. By 1997 Polek accepted a position as an associate editor, covering the regional airline beat for&nbsp;Aviation International News&nbsp;in place of retiring industry veteran Don Anderson. The assignment took Polek across North America and Europe to profile regional airlines varying in size and mission from the likes of floatplane operators Kenmore Air and Chalk’s Ocean Airways to regional jet operators such as SkyWest and American Eagle. Today, in his dual role as Air Transport Editor and International Airshow Editor, Polek writes, edits, and manages AIN’s commercial aviation content while overseeing each of the company’s daily international air show publications in Paris, Farnborough, Singapore, and Dubai. Most recently Polek has assumed oversight of daily coverage of the Helicopter Association International’s annual Heli-Expo convention.

Senior Editor

Gregory Polek

Singapore Technologies Engineering’s (ST Engineering) wholly-owned aviation asset management unit has entered into an agreement with Singapore-based investment company Temasek&nbsp;to establish a 50-50 joint venture (JV) for freighter aircraft leasing, the companies said Tuesday. The JV will&nbsp;address the&nbsp;growing demand for freighter aircraft as e-commerce and air cargo volumes expand around the globe, said ST Engineering.

 


The companies have set a target to build a portfolio valued at about $600 million within five years while investing in passenger-to-freighter conversions. Under the contract, ST Engineering will provide associated maintenance, repair, and overhaul services and serve as the asset and lease manager to the JV, a plan it called consistent with the group’s aviation asset management business model.

 


Plans call for the portfolio primarily to consist of narrowbody P2F conversions, which ST said is consistent with the JV’s focus on an environmental, social, and governance (ESG) policy to&nbsp;guide its operations and business development.&nbsp;The JV will set relevant ESG criteria for its&nbsp;investments and&nbsp;work with prospective clients on measures to reduce their carbon footprint, including the use of sustainable aviation fuels and enhanced engine maintenance programs.

 


“The joint venture with ST Engineering represents an opportunity for both of us to identify solutions for the reduction of carbon emissions, even in a traditionally carbon-intensive industry, by putting capital to work in those solutions,” explained Temasek head of industrials, business services, energy, and resources Uwe Krueger. “We expect to work with like-minded partners and customers to tailor solutions that are efficient and sustainable while being commercially viable.”

 


On the supply side, the JV expects to purchase passenger aircraft feedstock at lower prices due to suppressed passenger aircraft values resulting from travel restrictions arising from the Covid-19 pandemic. The JV intends to finance the aircraft through a mix of equity and debt.

 


“This joint venture represents a significant step by ST Engineering in growing our aviation leasing business as we expand beyond passenger aircraft and engines to include freighter aircraft assets as part of our portfolio,” said ST Engineering head of commercial aerospace Jeffrey Lam.&nbsp; “As we embark on this exciting venture with our partner, Temasek, we also welcome and look forward to working with other potential like-minded partners who are looking to invest in the strong freighter aircraft leasing market.&nbsp;In the medium- to long-term, the JV intends to securitize the leasing income streams by way of a business trust to unlock capital.”

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

ST Engineering, Temasek To Form Freighter Leasing JV

The 50-50 joint venture between ST Engineering and Tamasek will focus on narrowbody P2F conversions.

2024 Corporate Aviation Leadership Summit

Charlotte Bailey

News and issues about aviation maintenance, repair and overhaul (MRO), covering all segments of the aviation industry; and modifications for aircraft and engines. Subjects include product support of aircraft, engines and avionics, MRO company mergers, acquisitions, announcements and personnel, Airworthiness Directives, Supplemental Type Certificate approvals and other topics.

News and information on safety procedures and concerns.

News and issues relating to the aerospace industry that are related to the science, engineering and business of flight in space involving civil, industrial and military applications, and similar topics related to flight in the atmosphere of the Earth that are not covered more directly by other AINonline subject channels. In other words, both astronautical and aeronautical subjects, except for those aeronautical topics that are specifically covered elsewhere on this website.

ATR 72 aircraft performs pre-modification flight in Toulouse

Kepplair Starts Converting ATR 72 Into Water Bombers

Curt Epstein

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

Only the piston aircraft segment posted a decline

GAMA: Bizjets, T-props, and Rotorcraft Deliveries Up

Hanneke Weitering

Two captains held the prototype 33 feet above the water for 30 seconds

Regent Flies Electric Seaglider with Crew for First Time

News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

Icing approval would open year-round service to northern communities

Horizon Begins Icing Tests for Cavorite X7 eVTOL

Kerry Lynch

Deal to close this year

Bombardier To Grow Manufacturing Capacity with MHICA Buy

David Donald

Essential news and analysis on the defense aerospace business. Your trusted source for new and ongoing programs and requirements in military aircraft (manned and unmanned), engines, avionics, weapons and associated systems, including ground-based air defense.

The two NATO allies will purchase seven of the tanker/transport aircraft

Spain and Poland Agree to Buy A330MRTT Tanker Transports

News and developments about aircraft engines, including turbofan, turboprop, turboshaft and piston.

News and issues relating to international air transport and cargo carriers, national airlines and regional airlines, including aircraft, engines, personnel, acquisitions, accidents, safety, security and training.

GE Aerospace has tested the GE9X, Leap 1A, Leap 1B, and more with the 747.

GE Aerospace Flies Boeing 747 To Test New Engine Tech

Charles Alcock

News about commercial airlines, including regulations, aircraft orders, safety, acquisitions, and mergers.

News about environmental issues relating to aircraft operations, including noise issues, emissisions, and regulations. See Fuel for biofuel.

In this article

ST Engineering

More In Aircraft