Aviation support firm MacroAsia Corp. has signed a deal with PTC Holdings Corp., one of the country’s leading crew management and diversified maritime services group, to set up an integrated aviation career and resource development venture.
Based on the joint venture agreement signed by the parties on Monday, MacroAsia will own 51 percent while PTC will own 49 percent of the new business, MacroAsia said in a disclosure to the Philippine Stock Exchange.
The joint venture company will initially invest about $3 million to establish a training and skills assessment center for aviation professionals, the disclosure said.
The training facility will be based in Subic Bay International Airport and will start its operations by first half of 2018.
Initially, the venture aims to pursue start-up 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,” the disclosure said.
At present, MacroAsia provides aircraft maintenance, repair and overhaul, ground handling, airline catering and foods services management, among others.
PTC Group, for its part, provides 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, offshore business processing, property development, international professional placement, professional and airline support services, among others.