CAE wins commercial aviation training solution contracts valued at more than C$200 million
posted on Oct 18, 2016
MONTREAL, CANADA--(Marketwired - Oct. 18, 2016) - (NYSE:CAE)(TSX:CAE) - CAE announced today a series of contracts, including training programs with airlines in North America and Asia, as well as the sale of 12 full-flight simulators for airline training worldwide. These agreements, valued at more than C$200 million, highlight some of the orders CAE has won during its second quarter, and illustrate the span of its commercial aviation training solutions. They include:
Airline pilot training agreements, demonstrating the recurring nature of CAE's offering
- An exclusive 3-year training contract renewal for CRJ200 pilot training with Air Georgian in North America
- A training contract extension for Boeing 737NG with JEJU air in Asia
The sale of 12 full-flight simulators and update services, highlighting CAE's continued training equipment market leadership
- Three Airbus A320 full-flight simulators to JetBlue Airways in North America
- One Airbus A320 full-flight simulator to Lufthansa Flight Training in Europe
- One Phenom 100/300 full-flight simulator to Embraer CAE Training Services (ECTS), the joint-venture between Embraer and CAE
- One Airbus A320 full-flight simulator to CAE Simulation Training Private Limited (CSTPL), the joint venture between CAE and InterGlobe Enterprises in India
- One Embraer E190 full-flight simulator to SIMAERO in Singapore
- Five full-flight-simulators, including one C Series, one Boeing 737NG and one Airbus A320, to undisclosed customers in North America and the Middle-East
"The global commercial aviation market continues to be strong and these contracts reaffirm CAE's position as the global training partner of choice", said Nick Leontidis, CAE's Group President, Civil Aviation Training Solutions. "We are privileged to support our partners' continued success and we are committed to supporting their training needs long into the future."
The sale of 12 full-flight simulators (FFSs) brings the total number of FFS sales announced in the first-half of fiscal 2017 to 21. 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.
More detail about the contracts is available in the trade media fact sheet following the press release.