MONTREAL - CAE Inc. (TSX:CAE) has announced deals to sell nine full-flight simulators and nine flight training devices in contracts the Quebec-based concern says are valued at $230 million at list prices.
The contracts are with Etihad Airways, the national airline of the United Arab Emirates, and with China Eastern Airlines, one of the largest airlines in China, the company said Thursday.
The deals, signed in the first quarter, bring to 15 the number of full-flight simulators the company has sold so far in fiscal 2014.
"We are happy to continue growing our relationships with Etihad Airways and China Eastern, two of the fastest growing airlines of the world," said Nick Leontidis, CAE group president, civil simulation products, training and services.
The contract with Etihad is for seven full-flight simulators and seven flight training devices along with update services and an exclusive 10-year agreement for training equipment and services.
The seven simulators and training devices will be delivered to the new Etihad training centre extension, which is under construction next to Etihad's headquarters in Abu Dhabi.
CAE will also be updating Etihad's existing four CAE-built FFSs to the latest aircraft configurations and CAE technology.
The contract with China Eastern is for a Boeing 737-800 FFS and a Boeing 777-300ER FFS, both CAE 7000 Series models equipped with the latest CAE Tropos 6000 XR visual system. The contract also includes two CAE simfinity integrated procedures trainers as well as updates to the airline's existing A330 and A320 FFSs.
The Boeing 737 FFS and training device will be delivered to the flight training centre in Kunming in September 2014 and the Boeing 777 FFS and IPT are scheduled for delivery to the flight training centre in Shanghai in August 2014.
China Eastern already operates 16 CAE-built simulators.