- Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace
and Corporate Wings to train exclusively with SIMCOM and
CAE
MONTREAL, Aug. 29, 2019 /CNW Telbec/ - (NYSE: CAE)
(TSX: CAE) CAE announced today that
it has entered into a strategic partnership with Directional
Aviation Capital (DAC), one of the largest, fastest growing, and
most innovative corporate aviation service companies globally.
As part of this transaction, CAE will form a joint venture with
DAC's affiliate, Volo Sicuro, LLC
and acquire 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 will enter into a 15-year exclusive training
services agreement with SIMCOM and with CAE. Together, these
aircraft operators have a rapidly growing fleet of approximately
175 business aircraft. In addition, to enhance its training
offering, SIMCOM will purchase equipment from CAE's latest product
offering, including five full flight simulators. The transaction is
subject to customary closing conditions.
"We are very pleased that Directional Aviation has chosen CAE to
be its training partner of choice. Our investment in SIMCOM is
another step in the expansion of CAE's business aviation training
business that gives us access to a rapidly growing customer base as
Directional Aviation affiliates' exclusive training partner for the
next 15 years," said Marc Parent,
CAE's President and CEO. "Both CAE and Directional are recognized
for their innovative approach to business aviation, and we look
forward to working with Directional affiliates and business
partners and providing them with the most technologically enriched
training programs, including our state-of-the-art simulation
products and advanced digital solutions."
"Directional Aviation is charting the course of private
aviation, worldwide. Today, we operate one of the largest
business aviation fleets globally, and we plan on having
significant growth in the future," said Kenn Ricci, Principal of Directional Aviation
Capital. "With this partnership with CAE, our operators will have
access to the latest solutions in aviation training from the
industry leader."
"We have a clear vision for SIMCOM's future as an innovative
training provider focused on the owner-flown market as well as
fleet operators," said Eric Hinson,
President and CEO, of SIMCOM. "We are extremely pleased to
partner with CAE and leverage their industry leading technology and
training expertise to better serve our customers."
About Directional Aviation
Directional Aviation
Capital is a private investment firm whose singular focus is
private business aviation. Combining strategic aviation ownership,
unmatched experience and revolutionary vision, Directional
continues to innovate and reshape private aviation. Directional's
unique industry expertise enables them to quickly understand
business aviation companies and provide the financing and
operational strategy needed to take advantage of evolving market
opportunities. Directional's OneSky Flight portfolio of private jet
travel providers includes shared ownership/fractional jet
ownership, jet card, membership and on-demand charter providers.
Industry leaders representing MRO, private jet remanufacturing,
aviation parts distribution and more also make up the Directional
family. Directional Aviation is charting the course of private
aviation, worldwide. For more information, visit
www.directionalaviation.com.
About SIMCOM
A privately-owned, comprehensive learning
institution, SIMCOM utilizes realistic simulator-based training to
provide advanced aviation training services to professional pilots,
owner-operators, Part 135 operators and maintenance personnel
operating in general aviation, regional, military, government and
cargo operations around the world. SIMCOM currently operates
47 simulators representative of a wide range of jet, turboprop and
piston powered aircraft. The company is headquartered in
Orlando, Florida, where it also
operates two training centers. Additional training centers
are located in Scottsdale,
Arizona, and Humberside, United Kingdom.
About CAE
CAE is a global leader in training for the civil aviation, defence
and security, and healthcare markets. Backed by a record of more
than 70 years of industry firsts, we continue to help define global
training standards with our innovative virtual-to-live training
solutions to make flying safer, maintain defence force readiness
and enhance patient safety. We have the broadest global presence in
the industry, with over 10,000 employees, 160 sites and training
locations in over 35 countries. Each year, we train more than
220,000 civil and defence crewmembers, including more than 135,000
pilots, and thousands of healthcare professionals worldwide.
www.cae.com Follow us on Twitter: CAE_Inc
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SOURCE CAE INC.