UK firm to invest $15.6 million on Clark Aviation Institute
Quezon City (11 January) -- A UK-based firm will infuse $15.6 million investment project at the Clark Special Economic Zone (CSEZ) for the establishment of a world class aviation school for Airbus 320 aircraft.
International Aviation Group (IAG) chairman and CEO Mark Pearson, signed an agreement last week with CDC for the multi-million dollar project that is expected to commence operation in May this year.
Pearson said the firm will also infuse an additional $ 12.5 million in its second year of operations following the arrival of more training equipment including flight simulators by 2007.
Initially, we shall have three flight training devices; two fixed-base simulators covering the basic and intermediate phases of the flight instruction; the third being an A320 Level D full flight simulator," he said.
IAG's partners in the project include Prescient Systems and Technologies Pte. Ltd of India and SREI Infrastructure Finance Limited of Singapore. The new facility will not only address the serious pilot shortage in the Asian region and also around the world but will also serve as a pilot recurrent training facility for airlines in the region.
The firm is also intending to recruit and train, if necessary, local instructors with the objective that ultimately the majority of the instructors will be Filipinos.
Clarks's strategic location within Southeast Asia combined with its special economic incentives, abundance of skilled, English speaking personnel and cost benefits made it a strategic location for a major International Flight Training Academy to serve the region's needs, Pearson said. (Beat The Odds Infobits) [top]
