MacroAsia, PTC Holdings to set up aviation school via joint venture

MACROASIA CORP. and PTC Holdings, Corp. are set to establish an aviation school scheduled to open next year.

The Lucio Tan- owned company and the crew management firm had an initial investment of $3 million for the joint venture to establish First Aviation Academy, Inc., which will be based in Subic International Airport. MacroAsia has a 51% share in the venture, while PTC has 49%.

The joint venture is seen to expand the aviation services of MacroAsia. Mr. Chua previously said the company will be focusing on its aviation-related businesses instead of growing other businesses like its mining unit, MacroAsia Mining Corp.

MacroAsia said they expect to produce more than 300 pilots and achieve about $17 million in cumulative revenue for the first five years of its operations.

MacroAsia President and COO Joseph T. Chua said that they target to provide aviation manpower to foreign airlines, as well as Philippine Airlines ( PAL), which is also owned by Mr. Tan.

“We can provide substantial savings to PAL,” MacroAsia President and COO Joseph T. Chua told reporters.

Mr. Chua said that they plan to supply graduates from the school to foreign- owned airlines first, and eventually, to PAL.

PTC CEO Gerardo A. Borromeo said PTC is adapting to current industry needs regarding aviation human resources. “We need a lot of people,” Mr. Borromeo told BusinessWorld during the event. However, aside from the numbers, Mr. Borromeo said that PTC has training geared towards management capabilities of aviation professionals, particularly pilots, who are expected not only to know the technicalities of flying but knowing how to handle various situations that may arise in the aircraft.

Mr. Borromeo added that existing training by PTC for mechanics and flight attendants, “will be combined” with the aviation services of MacroAsia, such as ground handling.

MacroAsia partnered with PTC for the experience of the latter in crew management. PTC Group, the parent company of the PTC Holdings, now has a chain of diversified services, which include chartering, logistics and freight forwarding, and fuel distribution and renewable energy development. The company is known for its crew management and maritime services.

MacroAsia recorded a net income of P372.24 million for the second quarter.