Archive for the ‘BVI Company Joint Ventures’ Category

BVI-based company takes part in developing RFID baggage-handling service

Saturday, November 21st, 2015

Aeroflot airline and four airports in Moscow, Prague, Bologna and Tallinn have completed a pilot of RFID-enabled baggage-tracking system in Europe, as part of the resolution of the International Air Transport Association (IATA), which is aimed at requiring airlines to accurately monitor acquisition and delivery of each item of baggage by June 2018.

The tested solution is known as the Hand-to-Hand RFID Baggage Tracking System (HHRBTS), and supplied by Hong Kong-based RFID solution provider Longest Chance. It is a joint venture of ERFID, a Russian provider of RFID-based systems, and its parent company Invido Group, incorporated in the British Virgin Islands.

In case of RFID baggage-handling technology, Invido’s solution can be offered as a service, reasonably easy to install and potentially lowering the barriers preventing airlines and airports from adopting radio frequency identification. This is the idea of tracking baggage from airport check-in to the arrival. Hardware provides the hardware, and an ERFID server and software to enable airports and airlines to know when baggage is checked in at an airline counter, how it is routed to the plane, and when it arrives at the destination. IATA acted as a consultant for the technology’s installation.

BVI-based ASM enters into Joint Venture with Chinese Aviation Company

Monday, July 30th, 2012

Aviation Services Management, incorporated in the BVI and headquartered in the UAE, and operating global network of aviation services, has formed a strategic alliance with Asia Trip Support (ATS) – an aviation services provider in China, having offices in various locations of the country. According to this agreement, ATS becomes the exclusive representative of Aviation Services Management in China. ATS will take responsibility for providing services such as ground handling, permits, operations, etc.

ASM has extensive presence in USA, Europe, Africa and Middle East, and this joint venture provides for further expansion. Vito Gomes, Managing Director of ASM commented on the agreement: , “As we have been growing in the Middle East, Asia & Africa we expect South East Asia, China in particular, to be our forte in the years to come as we know that the Chinese market holds a promising potential. We would like to partner in as many regions as possible if it would benefit the industry as well as serve our clients. We feel that China is a dynamic market and can foresee tremendous untapped potential.”

BVI-based ASM opened new Indian branch

Friday, May 27th, 2011

Aviation Services Management (ASM), the company incorporated in the British Virgin Islands and based in Dubai, announced that it had opened a new branch in India, Mumbai. The BVI company has the purpose to accommodate an increasing number of high-net-worth individuals.

This is the second ASM’s branch in India, the first one was opened in Goa in 2006. In December 2010, Aviation Services management and Abu Dhabi-based international luxury flight services company Royal Jet formed a joint venture to target the Indian market. Currently, the BVI company provides charter sales and marketing in India for Royal Jet, and Royal Jet operates six Boeing Business Jets as well as Gulfstream G300 and GIV, Embraer Lineage 1000 and Learjet 60 aircraft.

ASM is also looking into many other areas to improve its service to the clients, such as logistics and operations support. Company’s expansion in India anticipates further growth in the business aviation sector. According to ASM, country’s corporate jet fleet currently stands at 450 (136 of them being registered in India), and is projected to rise to 1,200 aircraft by 2020.

The BVI company, founded in 1998, specializes in flight support services, operations consultancy, charter brokerage, aircraft management, flight planning and government and regulatory compliance. Almost half of its business is reselling fuel.

ASM reported US$165 million in turnover last year, this is a 20-percent increase in its business over 2009. The BVI company now employs 40 people in Dubai and the nearby emirate of Sharjah, as well as in the UK, Goa and Mumbai.

BVI corporation purchases stake in Pan American Energy from BP

Monday, November 29th, 2010

Yesterday, British Petroleum (BP) has agreed to sell its 60 percent stake in Pan American Energy, which is the second largest producer of oil and gas in Argentina, to Bridas Corporation, a British Virgin Islands-incorporated joint venture engaged in oil and gas exploration in Argentina. After the sale, Bridas will have total ownership of Pan American.

The sale which will cost 7.06 billion dollar is expected to be completed next year. According to the statement of British Petroleum, the deal was part of its plan to divest up to 30 billion dollars of assets by the end of 2011 to cover costs incurred during the Gulf of Mexico oil spill at BP drilling rig. So far, BP raised 14 billion dollars from asset sales.

The BVI-registered Bridas Corporation is 50%-owned by Cnooc International, the international subsidiary of China National Offshore Oil Company, and 50% by Bridas Energy Holdings.