MONTREAL—Flight simulator and training company CAE Inc. (TSX: CAE) announced Thursday that it has won $70 million worth of contracts to supply simulators and upgrades for Airbus A350 and Boeing 777 aircraft.
The Quebec-based company said the contracts include one to design and manufacture two CAE 7000 series full-flight simulators for the Airbus A350 XWB, the first such simulators for the new long-range aircraft. It will also develop six procedures trainers for the aircraft.
Meanwhile, CAE also announced that it has signed contracts with Airbus to perform a range of upgrades on Airbus-owned FFSs, and that it has received a contract from an unnamed North American customer to provide a Boeing 777 full-flight simulator.
The latest contracts bring CAE sales of full-flight simulators to date in fiscal 2011 to nine, the company said in a news release.
The first FFS for the A350 XWB is scheduled to be delivered in late 2012 to the Airbus training centre in Toulouse, France, where it will be used by Airbus to support Model Aircraft training developments and certification, as well as for initial training of pilots for customers taking delivery of the aircraft. The location of the second A350 XWB FFS installation is to be determined later.
“In addition, Airbus Models also holds an option for a third A350 XWB FFS and the agreement includes provisions for the placement by CAE of additional A350 simulators in its network as the market develops,” CAE said.
CAE is a world leader in providing simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe.
With annual revenues exceeding C$1.5 billion, CAE employs more than 7,500 people at more than 100 sites and training locations in over 20 countries.
CAE stock was down 10 cents at $10.70 in midday trading Thursday on the Toronto Stock Exchange.
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