CAE Inc.

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NYSE : CAE


CAE Inc.

December 19, 2013 07:00 ET

CAE signs contracts valued at more than C$90 million for five full-flight simulators, training devices and update services

MONTREAL, CANADA--(Marketwired - Dec. 19, 2013) - (TSX:CAE)(NYSE:CAE) CAE today announced that it has signed contracts for five full-flight simulators (FFS), a series of flight training devices and update services. The contracts include the sale of one CRJ200 simulator to Sky Wings in Russia, one B787 simulator to the Zhuhai Flight Training Centre (ZFTC) in China, one Global Vision simulator to Emirates-CAE Flight Training in Dubai, UAE, one B787 simulator to an undisclosed customer in North America, and one helicopter full-flight simulator to another undisclosed customer.

The contracts are worth more than C$90 million at list prices, and bring the total number of FFS sales announced to date for fiscal year 2014 to 38. List prices include the value of OEM aircraft-specific data, parts and equipment (DP&E), normally procured by CAE in the manufacture of its simulators. In the case of these contracts, some customers are providing part of the OEM content.

"Our recent programs wins are a testament to the broad range of our customer relationships and our leadership position in the robust simulation products market," said Nick Leontidis, CAE Group President, Civil Simulation Products, Training and Services. "We continue to increase our global reach and meet demand in the rapidly growing markets of Asia, the Middle-East, and Russia, while continuing to strengthen our position in North America."

Sky Wings

LLC TCRA Sky Wings, which belongs to the group of companies CJSC Aviation Center TRAVICOM, is a Russian-based aviation training organization. The CRJ200 simulator sold to Sky Wings is a CAE 7000 Series model and it will be installed in Moscow, in a 5-bay training centre currently undergoing construction. The centre is expected to become operational during the first quarter of 2015.

Zhuhai Flight Training Centre (ZFTC)

ZFTC is a joint venture of CAE and China Southern Airlines. The B787 FFS sold to ZFTC is the centre's first simulator for this aircraft type and the 27th CAE-built simulator to be deployed at the centre. The simulator is a CAE 7000 Series model and it will serve the training needs of Chinese and Asian operators. The Boeing 787 FFS, along with a CAE Simfinity Integrated Procedures Trainer and CAE Simfinity desktop trainers (VSIMs), are expected to be delivered to the flight training centre in Zhuhai during the spring of 2015.

Emirates-CAE Flight Training (ECFT)

ECFT is a joint venture between CAE and Emirates, one of the world's fastest-growing airlines. The new Global Vision FFS sold to ECFT is a CAE 7000 Series and features the latest generation CAE Tropos-6000 XR visual system. The simulator will be the 16th CAE-built FFS to be installed in Dubai and will be available for training by the end of 2014. ECFT is the first training centre of its kind in the Middle East to be approved by the European Aviation Safety Agency (EASA), the US Federal Aviation Administration (FAA) and UAE General Civil Aviation Authority (GCAA). ECFT has earned a reputation in the industry for training excellence and the centre is now one of the largest in the world. Continuous expansion has increased the facility's capacity to its current position of servicing over 200 aviation clients and training more than 10,000 pilots and technicians a year on a range of Airbus, Bell Helicopter, Boeing, Bombardier, Dassault, Gulfstream and Hawker Beechcraft full-flight simulators.

About CAE

CAE is a global leader in modelling, simulation and training for civil aviation and defence. The company employs approximately 8,000 people at more than 100 sites and training locations in approximately 30 countries. CAE offers civil aviation, military and helicopter training services in more than 50 locations worldwide and trains approximately 100,000 crew members yearly. In addition, the CAE Oxford Aviation Academy offers training to aspiring pilot cadets in 10 CAE-operated flight schools. CAE's business is diversified, ranging from the sale of simulation products to providing comprehensive services such as training and aviation services, integrated enterprise solutions, in-service support and crew sourcing. The company applies simulation expertise and operational experience to help customers enhance safety, improve efficiency, maintain readiness and solve challenging problems. CAE is now leveraging its simulation capabilities in new markets such as healthcare and mining. More information can be found at 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