Newspaper article The Canadian Press

CAE Signs Full-Flight Simulator, Training Device Contracts Worth $230M

Newspaper article The Canadian Press

CAE Signs Full-Flight Simulator, Training Device Contracts Worth $230M

Article excerpt

CAE signs contracts worth $230 million

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MONTREAL - CAE Inc. (TSX:CAE) has announced deals to sell nine full-flight simulators and nine flight training devices in contracts the Quebec-based concern says are valued at $230 million at list prices.

The contracts are with Etihad Airways, the national airline of the United Arab Emirates, and with China Eastern Airlines, one of the largest airlines in China, the company said Thursday.

The deals, signed in the first quarter, bring to 15 the number of full-flight simulators the company has sold so far in fiscal 2014.

"We are happy to continue growing our relationships with Etihad Airways and China Eastern, two of the fastest growing airlines of the world," said Nick Leontidis, CAE group president, civil simulation products, training and services.

The contract with Etihad is for seven full-flight simulators and seven flight training devices along with update services and an exclusive 10-year agreement for training equipment and services. …

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