A-Sonic Aviation group has entered into Aircraft Leasing Agreements for the leasing of two aircraft to Air Caucasus Limited (“Air Caucasus ”), a company incorporated in Georgia.
Strategic Investment in Air Caucasus
Ms Janet Tan, the majority shareholder and Chief Executive Officer of the A-Sonic Group has, invested 35% in the share capital in Air Caucasus, through her wholly-owned company, “EuroAsia Airlines Pte Ltd”.
Ms Janet Tan and Ms Irene Tay are non-executive directors of Air Caucasus. They will not be involved in the day-to-day operations of Air Caucasus.
Joint Venture Agreement to Establish A-Sonic Logistics (Georgia) Private Limited
A-Sonic Logistics (Georgia) Limited (“A-Sonic Logistics (Georgia) ”) has been established to engage in logistics business in Georgia.
A-Sonic Logistics (Georgia) is an extension of the A-Sonic Group’s operating network in thirty seven (37) cities, seventeen (17 countries spanning four (4) continents in Asia, Americas, Sub-continent India and Europe.