Japanese Airline Buys Miami Flight School
Pan Am International Flight Academy, based in Miami, Fla., has been bought by ANA Holdings, the parent company of All Nippon Airways, the companies announced last week. All Nippon Airways said it plans to expand Pan Am into Asia, providing training to other Asian airlines, partner firms and subsidiaries. "With air travel expected to double within the next 30 years, with much of the growth occurring in Asia, the company is poised to capture opportunities and create an additional source of steady revenue for the airline," according to Pan Am's news release. The purchase price was $139.5 million.
The Pan Am flight academy began in 1980 as the training division for Pan American World Airways. The company operates nine training facilities in the U.S. and Japan, offering more than 200 aviation training programs. ANA said it will operate Pan Am as a wholly owned subsidiary. The purchase will provide diversified and steady income for ANA, while reducing risk in the volatile and growing Asian aviation sector, according to an analysis in Nikkei Business. ANA also plans to expand into maintenance, airport management and aircraft leasing, according to Nikkei. The acquisition makes ANA the largest aviation training provider in Asia.