Earned Three New Contracts In March

Over the past month, CAE signed contracts to design and manufacture three full-flight simulators (FFSs) and associated CAE Simfinity training devices valued at C$33 million at list prices. The contracts are with first time simulation equipment customers Avianca Airlines and Sofia Flight Training, as well as Emirates-CAE Flight Training (ECFT).

In addition, CAE announced that a contract signed earlier this fiscal year to provide a Boeing 757 FFS to Flight Training Finance (FTF) was terminated. However, CAE then sold the Boeing 757 FFS to an undisclosed customer. During CAE's fiscal year 2009, the company received orders for 35 FFSs, but due to the termination will officially report a net total of 34 FFS orders.

"Offering the industry's most comprehensive portfolio of simulation products has enabled CAE to enjoy another strong year in the sale of full-flight simulators," said Marc Parent, CAE's Executive Vice President and Chief Operating Officer. "While the year ahead will be difficult in civil aviation, our diversified business portfolio will help ensure CAE's continued success."

CAE sold a CAE 5000 Series Airbus A320 FFS and related training devices to Avianca, the flag carrier of Columbia. This is the first time Avianca has ordered its own simulation equipment, which will be installed in a new training center the airline is currently building in Bogota, Columbia.

The company also sold a CAE 5000 Series Airbus A320 FFS to Sofia Flight Training. This marks the first time Sofia Flight Training, also known as the Institute of Aviation Transport, has ordered a brand new simulator, which will be installed at their training center in Sofia, Bulgaria.

Lastly, CAE signed a contract with Emirates-CAE Flight Training (ECFT) for the purchase of a CAE 7000 Series Airbus A320 FFS. ECFT will then lease the simulator to the new CAE Bangalore training center in India. The CAE Bangalore training center currently operates two CAE 7000 Series FFSs: one Airbus A320 and one Boeing 737NG.

"We are delighted that both Avianca and Sofia Flight Training have placed their trust and confidence in CAE for their first purchase of a new full-flight simulator. The CAE 5000 Series simulator is a new design standard for the industry and will serve as an excellent training tool for Avianca and Sofia's pilot training programs," said Parent. "ECFT's order of a CAE 7000 Series A320 for India will result in a much needed addition to that market's training infrastructure."

FMI: www.cae.com