Tuesday 24 July 2018 by FIIG Research Company factsheets

Aviation Training Investments 7.50% 13 Nov 2020 Senior Unsecured Note Factsheet

Aviation Training Investments 7.50% 13 Nov 2020 Senior Unsecured Note Factsheet

Based in Tullamarine, Victoria, Ansett Aviation (AAT) has a 40-year plus operating history, commencing from when Ansett Australia and its associated airlines first conducted pilot training in the 1970s. While Ansett Airlines may be known for its financial difficulties, AAT remained one of the few profitable businesses within the (now defunct) Ansett group. In 2001, Ansett Airlines went into receivership but AAT continued to operate during this period training both foreign and local pilots. In late 2004, administrators sold AAT as a standalone business to businessmen Wayne Bos and David Gilmour. The Company experienced steady growth over the following years, making investments in new SIMs and property.

In June 2012, AAT was acquired by a consortium led by the private equity firm Champ Ventures (CV). CV currently owns 90.6% of Aviation Training Holdings (ATH), which owns 100% of Aviation Training Investments (ATI). Chairman, Margaret Jackson, holds 5.7% and management and other investors hold the remaining 3.7% of ATH. Both Ansett Aviation Asia (AAA or Taiwan JV)and Ansett Aviation Italy (AAI) are structured as separate entities outside of the ATI group and AAT’s Australian business will exclude any returns from these international expansions.

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