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KUALA LUMPUR, 7 JULY 2022 – Regional operator, Raya Airways Sdn Bhd (Raya Airways),today announced that it will lease four Airbus narrowbody Passenger-to-Freighter (P2F) aircraft consisting of two (2) A320P2F and two (2) A321P2F from ST Engineering’s aviationasset management business.

Raya Airways’ Group Managing Director, Mohamad Najib Ishak, said, “The air cargo industry,being an integral part of the global supply chain, is expected to grow in tandem with the globaleconomy. The recent industry outlook by the International Air Transport Association1 statesthat cargo volumes are expected to set a record high of 68.4 million tonnes in 2022 with cargorevenues expected to account for US$191b of industry revenues.”

“With the introduction of the A320P2Fs and A321P2Fs into our fleet, we are able to scale upour operational capacity to meet the growing demand, whilst being able to reduce the carbonfootprint as we push forward our sustainability agenda,” he added.

The four freighter aircraft for Raya Airways will be converted under the A320/A321P2Fprogramme of Elbe Flugzeugwerke (EFW), which is the joint venture between ST Engineeringand Airbus. Conversion for the first aircraft, an A321, has started at ST Engineering’s facilityin Singapore with expected delivery in the fourth quarter of 2022.

Raya Airways’ Chief Commercial Officer, MD Hidayat Rahim, said, “These are truly excitingtimes at Raya Airways as the added payload capacity will enable us to add numerous majorroutes to further expand the company’s footprint in the region.”

“Once converted, each A321P2F will offer 27 tonnes while each A320P2F will offer 21 tonnes,effectively increasing Raya Airways’ combined payload by up to 96 tonnes. Our commitmentto our clients is that wherever there are economic centres with robust future prospects, RayaAirways aims to be there,” he added.

“We are delighted to enter our first freighter aircraft leasing partnership with Raya Airways,”said Yip Hin Meng, EVP and Head of Aviation Asset Management at ST Engineering. “Ourunique leasing solutions such as the bundling of aircraft leasing with MRO services, whencombined with in-house developed P2F programmes and top-notch conversion standards,offer operators best-in-class economics and unparalleled levels in reliability.”

ST Engineering’s aviation asset management business is a full-fledged aircraft and enginelessor with core competencies in deal origination, financing, securitisation, lease management,technical asset management, re-marketing and repossession. Its portfolio of freighter aircraftincludes the A320P2F and A321P2F as the narrowbody options, and the A330P2F as thewidebody option. In addition to leasing solutions, ST Engineering provides total lifecycle assetmanagement solutions. These include turnkey aircraft and cabin re-configuration services,aircraft and engine MRO as well as freighter conversion.

EFW’s A320/A321P2F programme is the only solution in the market developed using originalOEM data and support from Airbus, which ensures greater lifecycle value, superior quality andreliability, as well as better maintenance planning. The A320/A321P2F solution comes withbalanced payload-range capability and optimised weight distribution to enable random loadingeven on empty flights, providing high flexibility to operators. Integrated cockpit design alsoensures that operators can remain in the OEM design environment.

ST Engineering is a global technology, defence and engineering group with a diverse portfolioof businesses across the aerospace, smart city, defence and public security segments. The Group harnesses technology and innovation to solve real-world problems, enabling a moresecure and sustainable world. Headquartered in Singapore, it has operations spanning Asia,Europe, the Middle East and the U.S., serving customers in more than 100 countries.ST Engineering reported revenue of $7.7b in FY2021 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index,MSCI Singapore, iEdge SG ESG Transparency Index and iEdge SG ESG Leaders Index.

Raya Airways is one of Malaysia’s leading and most trusted logistics solutions providers. The carrier provides expertise in air freight solutions for businesses in Southeast Asia including transportation of cargo by air, aircraft charter services, ground handling maintenance, repairand overhaul (MRO) and aircraft commercial cargo space selling, among others. Since taking flight in November 1993, Raya Airways has continued to build on a wide range of experience, knowledge, expertise and good service record within the industry. Raya Airways proudly connects and operates scheduled air cargo services into major regional hubs such as China(including Hong Kong), Indonesia, Singapore and Vietnam as well as prime commercialcentres in East Malaysia, namely Kota Kinabalu, Kuching and Labuan.


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