Market Overview

CAE Awarded C$50M in Flight Simulator Contracts by Chinese and Russian Customers

CAE (NYSE: CAE) today announced that it has sold four Level D full-flight simulators (FFS), two each to customers in China and Russia. The sales include the first two FFSs, associated training devices and the CAE Augmented Engineering Environment (AEE) for the new C919 aircraft being developed by Commercial Aircraft Corporation of China, Ltd. (COMAC). They also include two simulators, a Boeing 737NG and a Bombardier CRJ200, to Russian aviation equipment company NITA (New Information Technologies in Aviation). In addition, CAE sold simulator update services to various customers. The contracts are valued at more than C$50 million at list prices and bring the total FFS sales that CAE has announced to date during fiscal year 2013 to 23."We have a long history of cooperation with COMAC's Shanghai Aircraft Customer Services Co. (SACSC) Ltd. starting with the development of the first ARJ 21 full-flight simulators, and we are honored that SACSC has once again selected us for the development of the world's first C919 simulators," said Jeff Roberts, CAE's Group President, Civil Simulation Products, Training and Services. "We are also proud to continue to extend our reach into Eastern Europe and to have

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Posted-In: News Guidance Financing Contracts Asset Sales Management Global

 

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