Quasar Aerospace Industries, Inc.'s subsidiary, A-Cent Aviation, Inc., is pleased to announce they have filed their SEVIS application. This will allow the Corporation to execute a key component of its business plan by capturing the strong demand for aviation training from other countries.
The demand for pilot training remains extremely strong and is fueled by many factors, including:
- The rapid growth of travel in Asia, which is on track to surpass North America as the largest air travel market in the world;
- A wave of pilot retirements in the USA;
- Proposed changes to rules that could increase the time pilots must train, rest and work; and
- Increasing demand for air travel within the USA as the economy improves.
The Corporation estimates the flight training component alone at an average of $55,000 with margins of approximately thirty-five percent (35%). The Corporation is currently able to train a minimum of 100 students a year in Jacksonville alone and will make any necessary adjustments if demand warrants it.
The Student and Exchange Visitor Information System (SEVIS) is a web-accessible database used by the Department of Homeland Security to collect, track and monitor information regarding exchange visitors, international students and scholars who enter the United States on F, M or J Visas. SEVIS is managed by the Student and Exchange Visitor Program (SEVP) within US Immigration and Customs Enforcement.
Quasar's flight schools in Jacksonville, Florida and Colorado Springs, Colorado will benefit greatly from the ability to capture this demand. It is estimated that the application process will be completed in a four to six month period before approval by the Department of State.
We will continue to update our shareholders and the investment community as events unfold.
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.