Market Overview

CAE Announces Contracts with Etihad Airways, China Eastern Worth More than C$230M

CAE (NYSE: CAE) today announced that it has signed contracts for nine full-flight simulators (FFSs) and nine flight training devices with Etihad Airways, the national airline of the United Arab Emirates, and with China Eastern Airlines, one of the largest airlines of the People's Republic of China. The contracts, signed in CAE's first quarter, are worth more than C$230 million at list prices and bring the total number of FFS sales that CAE announced to date in fiscal year 2014 to 15. 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 the Etihad contract, the DP&E is being furnished to CAE by the customer."We are happy to continue growing our relationships with Etihad Airways and China Eastern, two of the fastest growing airlines of the world. We are proud to be selected as Etihad's exclusive training solutions partner and to provide China Eastern with additional state-of-the-art training devices. These contracts allow us to support both airlines with their growing need for well-trained pilots," said Nick Leontidis, CAE's Group President, Civil Simulation Products, Training and

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Posted-In: News Guidance Contracts Asset Sales Management M&A Global

 

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