(NYSE:CAE)(TSX:CAE) - CAE announced today at the 2017 Paris Air Show a series of aviation training solution contracts with large fleet operators and airlines worldwide, including Ethiopian Airlines, Air India, and Japan Airlines. These agreements, valued approximately C$85 million, cover airline pilot and cabin crew training, crew resourcing, business aviation pilot training programs, as well as the sale of four full-flight simulators (FFS).
They include:
Airline pilot and cabin crew training as well as business aviation pilot training agreements, demonstrating the recurring nature of CAE's offering
Ethiopian Airlines in Africa: a 5-year agreement to market Boeing 737NG, 757, 767, 777, 787 and Bombardier Q400 pilot training capacity
MHS Aviation in Europe: a new 2-year contract for business aviation pilot training
JetSMART in South America: an exclusive 5-year contract for Airbus A320 pilot training
Exclusive agreements for Airbus A320, A330 and Boeing 737NG pilot training to undisclosed airlines in Asia
An exclusive 2-year contract for Airbus A320 pilot and cabin crew training as well as crew resourcing to an undisclosed airline in Europe
Innovative training equipment, including update services and the sale of 4 full-flight simulators
One ATR72-600 full-flight simulator to Air India in India
One Airbus A350 full-flight simulator to Japan Airlines in Japan
Two full-flight simulators, including one Boeing 747 FFS and one business jet FFS, to undisclosed customers in North America
"These contracts come from all regions of the world and highlight the full extent of CAE's aviation training solutions," said Nick Leontidis, CAE's Group President, Civil Aviation Training Solutions. "We are proud that our new and existing customers continue to choose CAE as their partner to support their growing training and crew sourcing needs."
The 4 full-flight simulator sales represent CAE's first four FFS sales for fiscal 2018. 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.