Sun, Feb 07, 2016
Agreements Valued At More Than $250 Million
CAE has unveiled a series of contracts, including the sale of 9 full-flight simulators to airlines globally, as well as commercial and business aviation training programs with more than 10 operators. These agreements, valued at more than C$350 million (approx $250 million U.S.), cover a broad range of CAE's training equipment and programs, from commercial cadet to captain training, to business aviation pilot training, to training center operations and post-delivery services.
Approximately half the value of these contracts was booked in CAE's third quarter and the balance in the beginning of the fourth quarter of fiscal year 2016.
The 9 full-flight simulators (FFSs) sales bring the total number of FFS sales announced to date in fiscal 2016 to 39. CAE expects to exceed its prior FFS sales outlook for the fiscal year. 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.
The contracts include:
- An exclusive 4-year training agreement for commercial pilot training with an undisclosed customer in North America
- Over C$100 million in training programs with more than 10 business aviation operators in the United States, Europe, Asia and the Middle East, reflecting CAE's dedication to customer service and tailored approach to training. These contracts represent both new and renewal business for initial and recurrent pilot training as well as maintenance training for technicians.
- Training equipment, including the sale of 9 full-flight simulators
- One A320 full-flight simulator to CAE Simulation Training Private Limited (CSTPL), the joint venture between CAE and InterGlobe Enterprises
- One MRJ 90 engineering full-flight simulator to Mitsubishi Aircraft Corporation
- One ATR-600 full-flight simulator and one 400XR flight training device to an undisclosed European customer
- One Boeing 737NG full-flight simulator to an undisclosed customer in North America
- Five full-flight simulators, including three Boeing 737MAX, one A320 Neo and one ATR 42/72 full-flight simulators to an undisclosed customer in Asia
- Training center operations and post-delivery services
Over C$35 million (approx $25 million) in training center operations, maintenance and updates services to customers in North America, Europe, and Asia, supporting our partners' needs to maintaining training assets and upgrade to the latest aircraft fleet standard.
"CAE places such great importance on our long-standing customers around the world, and we are thrilled to support our partners' growth," said Nick Leontidis, CAE's Group President, Civil Aviation Training Solutions. "These agreements reaffirm CAE's commitment to providing our customers with high quality training programs in convenient, desirable locations with outstanding customer service."
(Source: CAE news release Image from file)
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