Embraer And CAE Unveil Next-Gen Pilot Training Program In Singapore - CAE (NYSE:CAE)

Embraer SA (NYSE:ERJ) expanded its long-term joint venture deal with CAE Inc (NYSE:CAE) for pilot and cabin crew training for the E-Jet E2 family of commercial aircraft.

Embraer-CAE Training Services (ECTS) plans to launch a new pilot training program and deploy an E-Jet E2 full-flight simulator (FFS).

The company intends to begin training at the Singapore-CAE Flight Training Centre in December 2023.

ERJ and CAE chose Singapore as the first location on the growing E-Jet E2 fleet in the Asia Pacific region.

Also Read: Flying High: CAE And Batik Air Ink 10-Year Deal For Pilot Training

The company intends to expand E2 pilot and cabin crew training programs to strategic locations within CAE's global network to aid aircraft deliveries.

"We are delighted to build on our offering and introduce the E2 pilot training program to support the growing number of APAC operators embracing the latest generation of platforms. We are more than ever committed to providing high-quality training programs available in locations close to our E-Jet E2 operators," said Johann Bordais, President and CEO, Embraer Services & Support.

This month, ERJ reported Q2 FY23 revenue of $1.292 billion, an increase of 27% Y/Y, beating the consensus of $1.162 billion. Adjusted income per basic ADS was $0.32 versus $0.25 last year, which beat the consensus of $0.12.

Price Action: ERJ shares closed higher by 1.03% at $15.65 on Tuesday, while CAE shares are trading higher by 3.27% at $24.65 on the last check Wednesday.

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