ST Engineering refutes losses claims against ST Aerospace

It was issued a writ of summons from France.

The integrated engineering group has discredited the claims against its aviation arm regarding losses arising out of of an Airbus Air Asia flight from Indonesia to Singapore on 28 December 2014.

According to a press release by ST Engineering, neither ST Aerospace or its subsidiaries were providing line maintenance support to Air Asia’s fleet at the time and were not therefore asked to assist the Indonesian Accident Investigation Board when it conducted its investigation and issued its final Report in 2015.

The press release added that ST Aerospace believes the claim against it has no merit.

“The Claim is not expected to have any material impact on the net tangible assets per share and earnings per share of ST Engineering for the financial year ending 31 December 2016,” the press release said.

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