CAE secures more than $100M in contracts from five airlines
Four new flight simulator orders brings company's fiscal 2016 total to 30
MONTREAL—Montreal-based simulator maker and training service provider, CAE, has signed agreements with five airlines that will add more than $100 million to the company’s balance sheet.
The new contracts range from training programs to full flight simulators.
“We are honoured to support the growth of our long-standing customers around the world,” Nick Leontidis, group president of CAE’s Civil Aviation Training Solutions, said. “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 five new agreements include the design of a cadet training program for China’s Shenzhen Airlines, an extension to a pilot training agreement with Spring Airlines in Japan and a training agreement with an undisclosed European customer.
In addition, CAE will design a full-flight simulator for an A350 Airbus that will be shipped to Airbus’ Asian Training Centre. The company will also build two A350 and one Boeing 787 flight simulators for undisclosed customers in North America. The new orders bring the company’s total simulator sales to 30 for its fiscal 2016.