Regional Express acquires Aviation Training Academy Australia and ST Aerospace Academy (Australia)

Regional Express (Rex) acquired (19-Nov-2019) Aviation Training Academy Australia and ST Aerospace Academy (Australia) from ST Engineering, for a cash consideration of SGD9.3 million (USD6.8 million) on a cash and debt free basis. ST Aerospace Academy is authorised by CAAC to train up to 168 cadets p/a for Chinese carriers, with current customers including Air China, Xiamen Airlines, Hainan Airlines and Okay Airways, as well as Scoot for the flight training component of its multi crew pilots licence programme. Rex Australian Airline Pilot Academy executive chairman Chris Hine stated: "The vast majority of cadets will be from overseas" and with Rex's expansion plans, the group "will have one of the largest pilot academies in the world". [more - original PR] [more - original PR - II]