CAE Civil Aviation Training Contracts
CAE (NYSE: CAE; TSX: CAE) announces today at the 2016 Farnborough International Airshow a series of contracts, including long-term training agreements with airlines in Asia as well as the sale of 9 full-flight simulators (FFSs) to commercial airlines, aircraft manufacturers and operators worldwide. These agreements, valued at more than C$180 million, highlight the span of CAE's training solutions, from airline pilot training, training centre operations services and innovative training equipment. They include:
Long-term airline pilot training agreements, highlighting the recurring nature of CAE's services
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- A 10-year agreement for Airbus A320, A350 and Boeing 787 pilot training with Vietnam Airlines
- A 7-year contract renewal for Airbus A330 training equipment services with Asiana Airlines
Airline training centre operations and technical support services illustrating CAE's broad range of solutions
- A 5-year renewal agreement with Jet Airways of India
- A new 3-year contract with an undisclosed airline in the United States
Training equipment, including 9 full-flight simulators, demonstrating CAE's continued market leadership
- Three full-flight simulators, including one Airbus A320, one A350 and one Boeing 787 to Asian Aviation Centre of Excellence, the joint venture between CAE and AirAsia
- One Airbus A320 full-flight simulator and one Airbus A320 flight training device to ChongQing Yu Xiang Aviation in China
- Five full-flight simulators, including a Boeing 737NG, an Airbus A320, an Airbus A330/A340, a Global 7000 and a Cessna M2 full-flight simulator to undisclosed customers in North America, the Middle East and Asia.
"Demand for professional pilots is rising globally, and CAE is honored to be the training partner of choice of these airline customers and operators, supporting their growing pilot training needs", said Nick Leontidis, CAE's Group President, Civil Aviation Training Solutions. "These contracts are a testament to our enduring commitment to serving the global pilot training market with the most innovative training solutions."
The 9 full-flight simulators sales represent CAE's first nine FFS sales for fiscal 2017. The FFSs are at list prices, which include the value of OEM aircraft-specific data, parts and equipment (DP&E). In the case of these contracts, some customers are providing part of the OEM content.
Source : CAE - view original press release
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