Airline Training International Ltd. Announces Launch of Aircraft Sale and Leaseback Program - With Completion of Three Aircraft Sale and Leaseback Transactions.Business Editors TORONTO--(BUSINESS WIRE)--Aug. 15, 2000 Airline Training International Ltd. ("ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ") (CDNX CDNX See Canadian Venture Exchange (CDNX). :ATS.) announced today the launch of a new sale and leaseback sale and leaseback The sale of a fixed asset that is then leased by the former owner from the new owner. A sale and leaseback permits a firm to withdraw its equity in an asset without giving up use of the asset. Also called leaseback. program for new Cessna 172 single-engine aircraft. The new program was launched with the signing of three sale and leaseback agreements for approximately $750,000 worth of aircraft. Robert W. Gilson, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "We have been working with a major financial institution for several months now to develop a sale and leaseback program that made aircraft ownership more affordable and hassle-free. Not only does our new program require a minimal down payment, but we also offer a complete wrap-around service package for the owner. Our program covers all aspects of aircraft ownership, from certification and documentation to maintenance, accounting and legal services legal services n. the work performed by a lawyer for a client. . "Our leaseback arrangement provides a revenue stream sufficient to service any loan payments, while ATI is responsible for all ongoing and maintenance expenses associated with aircraft ownership. It is truly a unique program." "We are proud to be the first in Canada to offer such a comprehensive program," said Carlos Monsalve, President. "The sale and leaseback program we have developed is advantageous to both parties. We designed the program with our customers in mind. We wanted to make our customers' dream of aircraft ownership as simple and affordable as possible. I think we have accomplished that goal. Essentially, owners make a $50,000 down payment, fill out a bank application, and leave the rest to us. What could be easier? "As for ATI, the leaseback program allows us to continue on with our fleet conversion objectives of substantially converting the entire fleet to new aircraft while minimizing capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. . In addition, the leaseback reduces fixed overhead expenses and minimizes the impact of seasonality on our business." Airline Training International Ltd. is Canada's first publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. (ATS - CDNX) dedicated to pilot training. The company plans to grow both nationally and internationally by expanding its' Professional Pilot Program, developing alliances such as its' current program with U of T, increasing its' market share through internal growth and acquisition, and embracing technological advancements in computer-based training See CBT. (application) Computer-Based Training - (CBT) Training (of humans) done by interaction with a computer. The programs and data used in CBT are known as "courseware." , distance education through the Internet, and use of simulators and virtual reality. Certain statements in this release may constitute "forward-looking statements" and involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any performance or achievements expressed or implied by such forward looking statements. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion