CAE signs contracts for five full-flight simulators valued at $60M
- CAE Inc. (TSX:CAE) has announced sales of five full-flight simulators and associated training devices with a total value of about $60 million.
CAE said Tuesday the contracts - the first full-simulator sales of its financial year which began April 1 - are with Lufthansa Flight Training, Flight Training Finance, Swiss Aviation Training and the Zhuhai Flight Training Centre in China.
Lufthansa bought a Boeing 777-200 freighter simulator, leasing company Flight Training Finance took a Boeing 757 simulator to be provided to Icelandair, Swiss Aviation Training signed for an Embraer 190 simulator, and Zhuhai - a CAE joint venture with China Southern Airlines - is taking two Airbus A320 simulators and related equipment.
The latest Chinese order expands the number of CAE simulators in the Zhuhai free-trade-zone centre to 15.
"In keeping with the flow of aircraft deliveries, the majority of simulator orders have come from operators outside North America," observed Marc Parent, head of CAE's simulation products and military training group.
CAE sold 35 full-flight simulators in its previous financial year, up by one from the year earlier.
Management has not yet made public its expectation for the current year, but Desjardins Securities analyst Benoit Poirier said Tuesday he expects the company to sell 40 full simulators.
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