ST Engineering has divested its Australian pilot school Aviation Training Academy Australia (ATAA) to operator Regional Express (Rex) in a deal valued at S$9.3 million ($6.83 million).
ST Engineering has divested its Australian pilot school Aviation Training Academy Australia (ATAA) to operator Regional Express (Rex) in a deal valued at S$9.3 million ($6.83 million).
The Singaporean company says the divestment is part of an ongoing effort to optimise its business portfolio, and ATAA will cease to be its subsidiary.
While ST Engineering refers to ATAA and ST Aerospace Academy (Australia) (STAA (Australia)) as two separate companies, Rex’s disclosure to the Australian Securities Exchange indicates that ATAA owns STAA (Australia).
Rex says that STAA (A) is accredited by the civil aviation authorities of Australia, China and Singapore. Current customers include Chinese carriers Air China, Hainan Airlines and OK Airways, as well as Singaporean low-cost operator Scoot, for the flight training component of the multi-crew pilot licence.
“With this acquisition, the Rex Group, which operates the biggest regional airline network in Australia, will draw on its expertise and experience at Australian Pilot Academy (AAPA) in training pilots to rigorous airline standards to help STAA (A) stand out from all other pilot academies that train commercial pilots to general aviation standards,” says AAPA executive chairman Chris Hine.
