Aviation service provider 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.
The agreement signed by the parties on Monday provided that MacroAsia will own 51 percent while PTC will own 49 percent of the joint venture, MacroAsia said in a disclosure to the Philippine Stock Exchange.
The joint venture company would initially invest about $3 million to establish a training and skills assessment center for aviation professionals, the disclosure said.
The training facility would be based in Subic Bay International Airport and would start operations by the first half of 2018, MacroAsia said.
The partnership would initially 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 food 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. —DORIS DUMLAO-ABADILLA