MACRO Asia Corp., an aircraft maintenance company controlled by tycoon Lucio Tan, has signed an agreement with PTC Holdings Corp. to create a joint venture for the establishment of an integrated aviation career and resource-development company.
Macro Asia will own 51 percent of the school called First Aviation Academy Inc. (FAA) The rest will be owned by PTC Holdings. FAA will initially invest some $3 million to establish a training and skills-assessment center for aviation professionals.
The facility will be based in Subic Bay International Airport and start operating by the first half of 2018. Initially, it will pursue pilot training, certification and career-development courses in the field of aviation. The partnership aims to address the foreseen shortage of aviation professionals for airline clients not only in the Philippines but also in other countries, according to Macro Asia.
The school will start with three aircraft—two single-engine light aircraft and one twin-engine light aircraft. It will also have two simulators, which have dual and control-loading yoke system and dual rudder pedal for simultaneous pilot and copilot control.
The school’s 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.
“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,” the FAA said in a statement.
