SINGAPORE – A330 P2F conversion agreement signed
ST Aerospace, Airbus and EADS EFW have finalised the agreement to launch the A330 Passenger-to-Freighter (P2F) conversion programme.
June 6, 2012
By Donald Urquhart
ST Aerospace, Airbus and EADS EFW have finalised the agreement to launch the A330 Passenger-to-Freighter (P2F)
conversion programme. This follows the MoU announced at the Singapore Airshow in February this year setting out the project’s foundation and granting ‘Authorisation To Offer’ for the A330P2F.
ST Aerospace lead the A330P2F engineering development work in
collaboration with Airbus and EADS EFW, while EADS EFW will lead the industrial phase and undertake marketing and sales activities, supported by Airbus. Most of the conversions will take place at EADS EFW facilities in Dresden, Germany, with the remainder at a dedicated facility of ST Aerospace.
EADS EFW will also serve as ST Aerospace’s European maintenance, repair and overhaul (MRO) centre, which fills the gap in ST Aerospace’s global airframe MRO footprint.
Under the agreements, ST Aerospace will subscribe to new shares in EADS EFW, representing 35 per cent of the enlarged share capital of EADS EFW, for a total consideration of €110.5 million,
comprising A330P2F engineering development work and cash injection.
This will be funded internally by ST Aerospace. EADS will hold a 65 per cent shareholding in EADS EFW.
Subject to regulatory approvals and customary closing conditions for the investment, the A330P2F engineering development phase is anticipated to commence by the end of 2012, with entry-into-service of the first A330P2F scheduled for 2016.