Airbus, a multinational aerospace corporation, and Singapore Airlines, a carrier airline of Singapore, agrred to form a joint venture. The JV, named Airbus Asia Training Centre, is 55% owned by Airbus, while Singapore Airlines will own the remaining 45% stake. "This facility is not just about pilots’ type rating and recurrent training. It also will be a centre of excellence that will look into research and development of training methods and technologies," Goh Choon Phong, Singapore Airlines CEO.