Lucio Tan to establish flying school
MacroAsia Corp. has entered into a joint venture with PTC Holdings Corp. to set up an aviation school, slated to be operational in the first half of 2018.
To be called First Aviation Academy Inc., the learning facility will be initially capitalized at $3 million, which will have three aircraft and simulators for training use.
The aviation school, which will rise in Subic International Airport, will pursue ab initio pilot training, certification and career development courses in the field of aviation. Its curriculum will include more than 200 flying hours using the single and twin engine aircraft which is more than what is currently being offered in the industry.
FAA is optimistic to produce more than 300 pilots and register about $17 million in cumulative revenue for the first five years of its operations.
The learning institution aims to address the expected shortage of aviation professionals for airline clients in and outside the Philippines.
Based on forecasts from aircraft manufacturers, there will be shortage of more than 600,000 pilots by year 2035. Largely, this is based from the growth in regional carriers, increasing preference for air travel in Asia and the current low rate of pilots entering the profession.
MacroAsia is a listed company that is known as a globally competitive provider of aircraft maintenance, repair and overhaul (MRO), ground handling, airline catering and food services management.
Founded by Carlos Salinas, PTC Holdings offers diversified services, spanning ship and crew management, maritime education and training, chartering, ship agency, logistics and freight forwarding, medical diagnostics, travel services, fuel distribution and renewable energy development, property development, and professional and airline support services.