JACKSONVILLE, FL -- (Marketwired) -- 04/23/13 -- Quasar Aerospace Industries, Inc. (OTC Pink: QASP)
Quasar Aerospace Industries, Inc.'s (OTC Pink: QASP) wholly owned subsidiary, A-Cent Aviation, Inc., is excited to announce this update to its shareholders and the investment community. A-Cent Aviation, Inc. (Florida) has finalized its certification of its 141 satellite location in Jacksonville, Florida. This accomplishment will allow A-Cent to be the only FAA Part 141 flight school located at Herlong Airport. The revenue gained from this satellite location will be considerable. Quasar is confident that we are extremely close to being able to capture significant revenues including third party money from Veteran Affairs and accomplish additional goals Quasar set out to achieve.
Part 141 refers to the FAA regulations related to the structure and approval of a flight schools. Training under Part 141 regulations is permitted only by instructors associated with an FAA-approved flight school. To become approved under Part 141, a flight school must meet certain requirements and submit each curriculum it wishes to have approved to the FAA for review. Part 141 approved schools are subject to regular surveillance audits by the FAA and must meet minimum pass rates on the flight students' practical exams.
All student pilots are required to meet the same standard of performance in order to obtain a pilot certificate. A Part 141 school is particularly focused and perhaps better for a full-time student whose goal is a professional career.
Designation as a Part 141 allows a flight school to apply and become approved by SEVIS/SEVP, Veteran Affairs (VA), Computer Assisted Testing Service (CATS), Comira testing, and Cessna Pilot Center (CPC). A-Cent, Colorado and Florida have already achieved designation as a Cessna Pilot Centers and Comira testing facilities and are awaiting SEVIS/SEVP approval.
The finalization of the 141 satellite location in Jacksonville, Florida will permit A-Cent to obtain its VA approval. This will allow A-Cent to tap into third party funding. The VA application for the 141 satellite location in Jacksonville, Florida is currently being processed. A-Cent Colorado currently has VA students enrolled and actively training.
Jacksonville, Florida is a prime location to conduct VA flight training. The bases in the surrounding areas will provide a large volume of students. A-Cent has a waiting list of military students prepared to being their flight training once our VA application is approved. A-Cent Jacksonville has created an Airline Transport Pilot (ATP) flight training program that is in high demand with military students. Once our VA certification is finalized, A-Cent is ready and prepared to saturate the military market offering its flight training programs and looks forward to realizing a significant increase in revenue.
Flight training is available under VA funding. To qualify, a veteran must have a private pilot's license and valid medical certification. VA will provide funding for training leading to designation as a commercial pilot, allowing the veteran to seek employment in an aviation career. Payments are issued to A-Cent on a monthly basis as training is completed. While the participation requirements are the same for all GI Bill programs, the payment amount varies depending on the GI Bill program being utilized.
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