CAE Wins 4 Contracts For Full-Flight Simulators

MONTREAL (CP) -- Flight simulator company CAE INC. has signed contracts valued at C$55 million (U.S. $52 million) to design and manufacture four full-flight simulators and related training devices, and to provide simulator updates and relocations.

The contracts are with Malaysia Airlines, Kenya Airways, Korean Air, and Mount Cook Airlines and bring to 10 the total simulator sales this fiscal year, CAE said Monday.

"The civil aerospace market continues to be challenging; however, CAE's diversified portfolio allows us to offer airlines a range of aviation training solutions tailored to our airline customers' requirements," said Jeff Roberts, CAE's group president of civil simulation products, training and services.

CAE is a world leader in providing simulation and modeling technologies and integrated training services to the civil aviation industry and defense forces around the world.

The company has annual revenues of more than C$1.6 billion and a workforce of more than 6,500 people in 20 countries.