Canadian completions and conversions specialist Flying Colours is on its way to ­establishing a presence beyond its North American base, after agreeing a deal with a Hong Kong-based provider of business aviation services.

Under a memorandum of understanding the firm was expected to have signed with Metrojet at the National Business Aviation Association convention in Las Vegas, Nevada, on October 10, Flying ­Colours envisages an Asian "base of operation."

The Peterborough, Ontario-based company last month indicated that talks with Metrojet, a maintenance and management specialist, had been under way since the beginning of the year. Delivery of a Flying Colours-completed aircraft to Metrojet had "grown the relationship," and there has been "a lot of referral work on both sides," it said.

Flying Colours undertook due diligence of Metrojet as a precursor to the memorandum. The structure of the partnership is to be ratified in mid-2012.

Source: Flight Daily News