CAE Concludes 15-Year Training Services Agreement
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CAE has concluded the previously announced strategicpartnership with Directional Aviation Capital (DAC), as well as the acquisitionof 50 percent of the shares of SIMCOM Holdings Inc.
As part of this transaction, which was first announced on August 29, 2019, CAE acquired for approximately US$85 million a fifty-percent stake in SIMCOM Holdings Inc. In addition, DAC's affiliated business aircraft operators, which include Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace and Corporate Wings have entered into a 15-year exclusive training services agreement with SIMCOM and CAE.
As announced on October 22, 2019, SIMCOM has purchased fiveCAE 7000XR Series full-flight simulators (FFSs) and five CAE 400XR Seriesflight training devices (FTDs) from CAE. These FFSs include a Gulfstream G650,two Bombardier Challenger CL350s, one Embraer Phenom 300 and one Embraer Legacy500. SIMCOM plans to install its new CAE training equipment in the new trainingcentre, which is under development in Lake Nona, Florida.
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