Market Herald logo


Be the first with the news that moves the market
  • 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

PTB by the numbers
More From The Market Herald

" Vmoto’s (ASX:VMT) profit takes off in HY report

Vmoto’s (VMT) profit has taken off in the last six months, increasing 119 per cent to total $4 million at the end of

" Air New Zealand (ASX:AIZ) defers capital raise to 2022

Air New Zealand (AIZ) will defer its capital raise plans until 2022, as COVID-19 continues to hamper the tourism sector.

" Regional Express (ASX:REX) flags bigger loss due to lockdowns

Regional Express (REX) is expecting an even bigger loss due to the current lockdowns in the east coast.
EROAD (ASX:ERD) - Chair Graham Stuart

" EROAD (ASX:ERD) raises $19m in oversubscribed share purchase plan

EROAD (ERD) has closed its NZ$16.1 million (A$15.3 million) share purchase plan (SPP) following strong shareholder support, with applications totalling almost NZ$43 millio…