CAE Inc.
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CAE Inc.

December 10, 2014 09:33 ET

CAE awarded a series of civil aviation training solutions contracts valued at more than C$100 million

Includes renewal of long-term training service outsourcing agreement with Iberia

MONTREAL, CANADA--(Marketwired - Dec. 10, 2014) - (NYSE:CAE)(TSX:CAE) - CAE announced today that it has signed a series of civil aviation training solutions contracts worth more than C$100 million with airlines and aircraft operators worldwide. These contracts include:

  • The renewal of its training service outsourcing agreement with legacy carrier Iberia for ten more years

  • The renewal of long-term training services with Turkish Airlines

  • An ERJ170 training services agreement with Compass Airlines

  • The sale of a full-flight simulator to a customer in the United States

  • The sale of a CAE Simfinity™XR integrated procedure trainer to Aegean, the largest airline in Greece.

"We are proud to continue to be the partner of choice for training of Iberia and Turkish Airlines and to welcome Aegean and Compass Airlines as new customers," said Nick Leontidis, Group President, Civil Simulation and Training, CAE. "Our relationship with Iberia, one of the world's preeminent legacy carriers, spans the last 50 years, beginning with the sale of the airline's very first full-flight simulator. Today, CAE offers the industry's most comprehensive and geographically diverse portfolio of training solutions and we are privileged to continue growing our Iberia relationship."

Under the agreement with Iberia, more than 1,000 Iberia pilots will train annually at the CAE Madrid training centre in La Muñoza, Madrid-Barajas, where CAE operates ten full-flight simulators.

"CAE is Iberia's partner of choice for training solutions because we are confident in its ability to deliver the latest technologies, the highest quality training programs, and the most reliable service," said Rafael Jiménez Hoyos, Chief Flight Officer of Iberia.

About CAE

CAE is a global leader in providing comprehensive training solutions based on world-leading simulation technology and integrated training services. The company employs 8,000 people at more than 160 sites and training locations in 35 countries. Our vision is to be our customers' Partner of Choice and we take a long-term approach to customer relationships. We offer our civil aviation and defence and security customers a complete range of highly innovative product, service and training centre solutions designed to help them meet their mission critical needs for safety, efficiency and readiness. We provide similar solutions to customers in healthcare and mining. CAE has the largest installed base of civil and military flight simulators, supported by a range of after-sales services, and has been serving the needs of its customers for nearly 70 years. We have the broadest training services network in the world and offer civil aviation, military and helicopter training services in 67 locations worldwide and train more than 120,000 civil and military crewmembers annually. www.cae.com

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Contact Information

  • CAE contacts:
    Nathalie Bourque, Vice President,
    Public Affairs and Global Communications
    +1-514-734-5788
    nathalie.bourque@cae.com

    Investor relations:
    Andrew Arnovitz, Vice President,
    Strategy and Investor Relations
    +1-514-734-5760
    andrew.arnovitz@cae.com