JACKSONVILLE, FL -- (Marketwire) -- 10/25/12 -- Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) -- Quasar's subsidiary, A-Cent Aviation, Inc., has executed a Memorandum of Understanding with Wingspan International of Hong Kong to place students from China in flight training programs that will lead to certification as Commercial Pilots. The MOU will grant Wingspan a limited exclusivity to place students in our aviation program subject to certain performance and compliance requirements.
The MOU is the second agreement signed by Quasar with recruiting agencies from around the world. It was executed in anticipation of A-Cent Aviation gaining approval of the recent SEVIS application filed with the Department of State. "The demand for commercial pilots in China is currently exploding. China simply does not have enough flight schools available to keep up with the demand for quality, trained pilots. Therefore, I am extremely pleased to be partnering with Quasar to help bring Chinese students to attend flight school in the USA. My company commits to providing a steady stream of students from the Guangdong province to Quasar once they receive SEVIS approval," stated Mr. Kai Lau, Wingspan International. "We are very excited to have a partner in one of our key target markets who can help us accelerate and customize our program to place non-US students. Like our previous agreement with Divine Academy of India this will allow us to tailor a program for the market in China and allow us to develop a pipeline of students once we are approved to enroll them," added Joseph Canouse, CEO of Quasar, A-Cent's parent company.
The flight training programs offered by A-Cent will allow the students to fulfill the requirements for issuance of both US FAA licenses. Demand for flight training programs for foreign students in the US has been steadily increasing and is now at an all-time high. Overseas airlines are recruiting and hiring the majority of qualified pilot that applies.
The courses average seven (7) months in length with a cost of the flight training at approximately $59,000.00. A-Cent Aviation will provide a complete package which will include training and for an additional cost housing and transportation for the students during their time in the program. A-Cent is in a perfect position to expand the programs to meet any demand since A-Cent has flight training schools in both Jacksonville, FL and Colorado Springs, CO.
Quasar and its subsidiaries are involved in aviation and aviation related businesses. We are the only certified Cessna Pilot Center (http://www.cessna.com/learn-to-fly.html) in Jacksonville, FL. Through our subsidiaries we are an FAA Part 141 flight school (www.faa.gov), Computer Assisted Testing Service (CATS) (http://www.catstest.com) and a Comira testing facility (http://www.comiratesting.com). We offer flight training and accept VA benefits under the GI bill (http://www.gibill.va.gov/). Our flight students also benefit from our onsite RedBird Full Motion Flight Simulator FMX1000 (http://www.redbirdflightsimulations.com).
Check us out on our web site (www.quasaraero.com) and Facebook at: http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747 or look to schedule a student pilot experience flight through Groupon (www.groupon.com) or Living Social (www.livingsocial.com).
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.
Quasar Aerospace Industries, Inc.
Telephone: (904) 207-6503
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