- Aviation specialist Pacific Turbine Group has ingrown its Engine Management Program by 15 per cent thanks to a new agreement.
- The program provides management and support for certain turboprop engines operators around the world.
- Pacific Turbine brokered an eight-year lease of 15 aircraft from SBI Leasing Services to Trans Maldivian Airways.
- The 30 engines from those aircraft will be added to the program, bringing the total number under management to 230.
- PTB Group was up 4.86 per cent, trading for 75.5 cents per share at 15:48 AEDT
Pacific Turbine has brokered the lease of 15 aircraft, bringing 30 engines under its management and growing its Engine Management Program (EMP).
The aircraft from SBI Leasing Services will be leased to Trans Maldivian Airways for 8 years, for which period the engines will be part of the PTG-EMP.
A Letter of Intent has been signed by the parties and the transaction is expected to be completed this calendar year.
The deal will increase the total number of engines under management by 15 per cent, bringing the total to 230.
This is an addiction to the exisiting PTG-EMP between the Trans Maldivian Airways that runs until 2023. The airliner has been working with Pacific Turbines since 2003.
Pacific Turbine specialises in the sale, leasing, maintenance, spare-part trade and repair of aviation engines,
The company specialises in PT6A and TPE331 turbine engines with a dedicated repair workshop in Brisbane.
PTB Group was up 4.86 per cent, trading for 75.5 cents per share at 15:48 AEDT