A-Sonic

A-Sonic: has established an aircraft leasing business which is steadily growing and will contribute significantly to its bottomline in the years to come because of its good margins. Btwn 2010-12, it started acquiring pre-owned airframes and engines, and had them re-assembled at its preferred MRO in Europe and the Americas. The co has focused primarily on the single aisle MD-83 planes for now. To date, it has leased out 2 aircraft to clients in South Asia and Euro-Asia. Another two are expected to be leased out before the year end. Mgt expects to have a total of 12 planes one year from now. Meanwhile, A-Sonic is restructuring its logistics business. Mgt notes the partial sale of its air logistics or GSA business to France’s World Freight Co was the first step in re-aligning the division. The counter closed at 5.5 cts yday, a significant discount to its NTA of 7cts.