Thursday, September 28, 2006

Stock News: A-Sonic unit wins 139 mln sgd 7-yr deal from Fly Asian Xpress

A-Sonic Aerospace Ltd said its unit JANCO Aircraft & Engines Pte Ltd (JAE) has entered into a seven-year aircraft maintenance management deal valued at about 139 mln sgd with Malaysian Fly Asian Xpress Sdn Bhd (FAX). Under the deal, JAE will provide aircraft maintenance services for FAX's fleet of 12 aircraft. "From a financial perspective, the 139 mln sgd multi-year contract provides recurrent revenue and earnings to the A-Sonic Aerospace group," it said in a statement.

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