<article><a href="https://www.dealstreetasia.com/?s=MacroAsia" target="_blank" rel="noopener">MacroAsia Corp</a> and <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/?s=PTC+Holdings" target="_blank" rel="noopener">PTC Holdings Corp</a> have formed a joint venture to establish an integrated aviation career and resource development company in the Philippines.</article>

<a href="https://www.dealstreetasia.com/?s=MacroAsia" target="_blank" rel="noopener">MacroAsia Corp</a> and <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/?s=PTC+Holdings" target="_blank" rel="noopener">PTC Holdings Corp</a> have formed a joint venture to establish an integrated aviation career and resource development company in the Philippines.
Called &#8220;First Aviation Academy Inc (FAA Inc)&#8221;, the joint venture firm is set to be a 51:49 per cent equity sharing between MacroAsia and PTC, respectively. The joint venture firm will initially invest about $3 million to establish a training and skills assessment centre for aviation professionals, and will own simulators and aircraft for training use and operations.
MacroAsia is a local listed company that provides aircraft maintenance, repair and overhaul (MRO) and ground handling services, airline catering and food services management, among others.
PTC Holdings is part of PTC Group, a crew management and diversified maritime services company in the Philippines.
FAA will be built in Subic Bay International Airport, and will start its operations by the first half of 2018.
&#8220;The partnership aims to address the foreseen shortage of aviation professionals for airline clients not only in the Philippines but also in other countries,&#8221; MacroAsia said in its statement.
FAA will pursue ab initio pilot training, certification and career development courses in the field of aviation. The school will start with two single-engine light aircraft, and one twin-engine light aircraft. It will also have two simulators with dual and control-loading yoke system and dual rudder pedals for simultaneous pilot and co-pilot control.
Partnerships between FAA and different airlines are also being worked upon to create a linkage for employment for aviation professionals.
The school is optimistic to produce more than 300 pilots and achieve conservatively about $17 million cumulative revenue for the first five years of its operations.
Citing forecasts from aircraft manufacturers, MacroAsia said there will be shortage of more than 600,000 pilots by year 2035. This is based on the estimated growth in regional carriers, increasing preference for air travel in Asia and the current low rate of pilots entering the profession.
Also Read:
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/phs-macroasia-catering-inks-shares-sale-deal-with-singapores-sats-9541/" target="_blank" rel="noopener">PH’s MacroAsia Catering inks shares sale deal with Singapore’s SATS</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/philippines-pal-holdings-merging-two-airlines-165m-share-swap-deal-59743/" target="_blank" rel="noopener">Philippines: PAL Holdings merging two airlines in $165m share swap deal</a>
<a href="https://www.dealstreetasia.com/stories/philippines-airasia-seeks-raise-250m-via-ipo-mid-2018-83391/ Philippines: MacroAsia, PTC form aviation school joint venture" target="_blank" rel="noopener">Philippines’ AirAsia seeks to raise $250m via IPO in mid-2018</a>

Called "First Aviation Academy Inc (FAA Inc)", it will be a 51:49 per cent joint venture between MacroAsia and PTC.

Philippines: MacroAsia, PTC ink aviation school joint venture

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Philippines: MacroAsia, PTC ink aviation school joint venture

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief