SIA, Airbus form flight training venture

[SINGAPORE] Singapore Airlines (SIA) is flying into new territory with a flight training centre in a joint venture (JV) with Airbus that will cost $80 million upfront.

The facility, known as the Airbus Asia Training Centre (AATC), will be 55 per cent-owned by Airbus and 45 per cent-owned by SIA. The initial investment will be contributed by both parties in proportion to their respective stakes in the joint venture.

"It is a new line of business for SIA. We're excited to get into this venture because it adds to our portfolio of companies, and is something that we've been known to do very well in - which is train our pilots," Goh Choon Phong, SIA's CEO, said at a media briefing at the Singapore Airshow yesterday.