November 14, 2017
SETOUCHI HOLDINGS, INC.
Setouchi Holdings, Inc. Signs Agreement to EstablishJoint Venture to Operate Seaplanes in Maldives
On 1st of November, Setouchi Holdings, Inc. (Headquarters: Onomichi, Hiroshima; Chairman: Katsushige Kambara; hereafter “SH”) signed an agreement with Island Aviation Services Limited (Headquarters: Malé, Republic of Maldives; Representative: Abdul Haris; hereafter “IAS”) to establish Sky Atoll Private Limited, a joint venture to operate seaplanes in Maldives.
Made up of roughly 1,200 coral islands, the Republic of Maldives is world renowned for its “one island, one resort” ultra-luxury resorts, and each year continues to draw a growing number of tourists from around the world. Seaplanes are the primary means by which tourists travel to each resort from the international airport through which they enter the country, and the scale of seaplane operations is among the largest in the world.
IAS is a state-run airline established by the government of the Maldives in 2000. It operates both domestic and international flights under the Maldivian brand name, and also operates seaplanes.
SH has worked energetically to create demand for the Kodiak 100 seaplanes manufactured by Quest Aircraft, its light aircraft manufacturer subsidiary in the United States.
By establishing the new joint venture with IAS, SH seeks to create further demand by introducing the Kodiak 100 attached with dedicated straight float for specific seaplane operation to satisfaction of various needs into the Maldives, one of the world’s largest markets for seaplanes.
Setouchi Holdings, Inc.
Head Office: Onomichi, Hiroshima
Representative: Katsushige Kambara, Chairman & CEO
Established: September 2011
Businesses: Regional promotion, Construction, Small aircraft, Textiles
Island Aviation Services Limited
Head Office: Malé, Republic of Maldives
Representative: Abdul Haris
Established: April 2000
Business: Aviation Services
Setouchi Holdings, Inc. Public Relations and CSR Department