ABA Bank, the largest commercial bank in Cambodia, announces successful cooperation with Lanmei Training Center (LTC) in financing and facilitating the purchase of the first Airbus A320 Full-Flight Simulator in Cambodia. The official launch ceremony of the simulator was held in Phnom Penh on 21 March 2023.
Being a subsidiary of National Bank of Canada, ABA Bank served as the key player providing financing to facilitate the agreement between Canadian Aviation Electronics and LTC for the purchase of the simulator.
Lanmei Training Center purchased the CAE-TSP 1000XR simulator to continuously train the flight personnel of airlines based in Cambodia, including Lanmei Airlines (subsidiary of Lanmei Aviation Group).
It will also help educate a group of students enrolled in multi-crew pilot license and aircraft maintenance programs and to address the growing demand for skilled pilots and aviation professionals in the country and the ASEAN region.
As per Lanmei Training Center general manager Captain Goh Chee Hong, the simulator provides a safe and controlled environment for pilots to practice and perfect their flying skills without risking the safety of passengers or crew.
"Bringing a costly aviation facility to Cambodia is a difficult task that demands not just any bank guarantee, but one that is trustworthy and dependable. We are delighted to work with ABA Bank to make this significant deal happen,” added Captain Goh.
The CEO of ABA Bank Askhat Azhikhanov commented, "ABA Bank is proud to see the development of the Cambodian aviation industry. We believe that ABA's support of this project will help Lanmei Training Center build the skills and expertise needed to sustain the sector's long-term growth.
"ABA Bank facilitated the deal between Lanmei Training Center and Canadian Aviation Electronics, which involved many steps and counterparties and successfully resulted in the official launch today. All this shows the credibility of ABA, vast opportunities of our Trade Finance and credit facilities to support projects of any complexity and scale that contribute to the local economy," Azhikhanov added.
Cambodia's aviation sector has seen growth in recent years, with more Cambodians expressing interest in aviation activities, including becoming commercial pilots.
By facilitating the project of Lanmei Training Center, ABA Bank supports the long-term development of Cambodia's aviation industry.
About ABA Bank
ABA is the largest local commercial bank in Cambodia by total assets, loans, deposits and profitability based on the National Bank of Cambodia's Annual Supervision Report 2021.
With 85 branches, 30 ABA 24/7 spots, more than 1,100 self-banking machines, and advanced online and mobile banking platforms, ABA Bank reaches out to 2.5 millions of customers with an array of modern financial products and services.
The Bank's major shareholder is National Bank of Canada. It is the sixth largest bank in Canada and the leading bank in Quebec where it is the partner of choice among SMEs.