CAE Awarded Commercial Aviation Training Solution Contracts Valued at More Than C$100 M
CAE (NYSE:CAE)(TSX:CAE) announced today a series of training solution contracts valued at more than C$100 million with five airlines. The diversity of these agreements highlights the span of CAE's full range of training programs that cover the entire career life cycle of professional pilots and CAE's leadership in developing training equipment solutions for next generation aircraft types. They include:
From cadet to captain training:
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- A cadet training program extension to create additional pilots for China's Shenzhen Airlines
- The extension of a long-term exclusive agreement for pilot training for Spring Airlines in Japan
- An exclusive training agreement for pilot training with an undisclosed customer in Europe
Training equipment, including the sale of three A350 full-flight simulators (FFS) and one Boeing 787 FFS:
- One A350 full-flight simulator and one A350 Airbus Pilot Transition (ATP) Trainer to the Airbus Asian Training Centre
- Two A350 and one Boeing 787 full-flight simulators, as well as one A350 flight training device to undisclosed customers in North America
"We are honoured to support the growth of our long-standing customers around the world," said Nick Leontidis, CAE's Group President, Civil Aviation Training Solutions. "We are privileged to extend our customer relationships with these agreements which allow us to maintain and further develop CAE's position as the worldwide training partner of choice."
The four full-flight simulator (FFSs) sales bring the total number of FFS sales announced to date in fiscal 2016 to 30. The FFSs are at list prices, which include the value of OEM aircraft-specific data, parts and equipment (DP&E) normally procured by CAE in the manufacture of its simulators. In the case of these contracts, some customers are providing part of the OEM content.
Shenzhen Airlines: Cadet training
Shenzhen Airlines has extended its ab-initio training program, renewing its flight training services agreement with CAE. Under the new agreement, CAE will select, assess and train additional cadets over the next 12 months. The cadets will begin training at the end of December 2015 at the CAE Oxford Aviation Academy in Phoenix, Arizona (United States). Shenzhen Airlines has been a customer of CAE since 2013 and has been creating pilots through the ab-initio program for the last 2 years.
Spring Airlines Japan: Pilot training
Spring Airlines has extended its pilot training program for Boeing 737-800 under an exclusive long-term agreement. Pilots will be receiving training at the JAL CAE Flight Training (JCFT) centre in Japan. Spring Airlines has been a customer of CAE since 2014.
Airbus Asia Training Centre: A350 full-flight simulator sale
CAE has signed a training equipment agreement with Airbus Asia Training Centre (AATC) in Singapore for an A350 CAE 7000 Series full-flight simulator (FFS) and an A350 Airbus Pilot Transition (APT) Trainer. The training equipment will be delivered at the Airbus Asia Training Centre in Singapore and will be ready for training at the end of October 2016. This is AATC's second A350 FFS and APT purchase.
Source : CAE - view original press release
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