ST Aerospace, a subsidiary of ST Engineering, has won two contracts worth S$85 million by T'Way Air.

T'Way Air is South Korea's first official low-cost carrier and is presently owned by Shinbo Investment Corporation.

The first contract will see ST Aerospace providing a 10-year maintenance-by-the-hour component, which includes repair management for some of T'Way Air's fleet of Boeing 737-800 aircraft.

The second contract will provide engine maintenance support for the same type of aircraft.

Both contracts, stretching over 10 years, will start immediately.

Currently, ST Aerospace provides airframe, component and engine support for airlines in the Americas, Asia Pacific and Europe.

First established in 2005 as Hansung Airlines, T'Way Air will resume operations under its new name this month.

T'Way Air now operates two Boeing 737-800 aircraft.

It plans to increase its fleet to nine by 2012.