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Singapore Technologies Aerospace Ltd (ST Aerospace) today announced that Aviation Training Academy Australia Pty Ltd (ATAA), a wholly-owned subsidiary of ST Aviation Training Academy Pte Ltd (STATA), has acquired 100% of Bruce Hartwig Flying School for a total cash consideration of A$120,000 (about S$155,000). The consideration was arrived at on a willing buyer, willing seller basis. STATA is a subsidiary of ST Aerospace, the aerospace arm of Singapore Technologies Engineering Ltd (ST Engineering)
This acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
The Bruce Hartwig Flying School was acquired as part of the flying operations set up in Ballarat. It will be renamed ST Aviation Training Academy (Australia) Pty Ltd. STATA was established in September 2007 to provide commercial pilot training under commercial and air transport pilot licences curricula and multi-crew pilot licence (MPL) programme. Today, STATA operates out of Singapore’s Seletar Airport and the Ballarat Airport in the Victoria state of Australia.
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