CAE signs 10-year training services contract with Virgin Atlantic
August 31 2005 - 9:15AM
PR Newswire (US)
MONTREAL, Aug. 31 /PRNewswire-FirstCall/ -- (NYSE: CGT; TSX: CAE) -
CAE has signed a 10-year agreement with UK-based Virgin Atlantic
Airways to provide training for pilots of the carrier's entire
fleet of Airbus A340-600 and Boeing 747-400 aircraft. Initially
valued at (pnds stlg) 28 million (C$60 million), the contract also
includes an option for Airbus A380 training. If all options were to
be exercised, the total contract value could amount to (pnds stlg)
43 million (C$92 million) over 10 years. The training, which
includes instructional delivery for ground school as well as
simulator training, will take place at CAE's Burgess Hill, U.K.,
training centre. Existing A340-600 and B747-400 simulators will be
redeployed from within CAE's global training network to Burgess
Hill by summer of 2006 for this purpose. "CAE is proud to have been
selected by Virgin Atlantic as its training partner. This is
another major milestone for our growing UK Training Operations,"
said Jeff Roberts, CAE's Group President, Civil Training and
Services. "We welcome Virgin Atlantic to the group of carriers to
whom we offer training services in our 22 training centres around
the world." The Burgess Hill training centre is part of the
Airbus-CAE cooperation, which combines CAE's and Airbus's training
expertise to provide increased access to training to customers
around the globe. Established in 2002, the Airbus-CAE cooperation
operates the largest fleet of Airbus full-flight simulators in the
world. Virgin Atlantic Airways operates long haul services to 26
destinations world-wide as far apart as Las Vegas and Shanghai.
Virgin Atlantic currently has a fleet of 32 aircraft which includes
thirteen 747s, nine A340-300s, and ten A340-600s. CAE is a leading
provider of simulation and modelling technologies as well as
integrated training services for commercial and business aviation,
and defence customers worldwide. The company has annual revenues of
approximately C$1 billion, with operations and training facilities
in 17 countries on five continents. DATASOURCE: CAE INC. CONTACT:
CAE media contacts: Nathalie Bourque, Vice President, Global
Communications, (514) 734-5788, Anne von Finckenstein, Manager,
Public Relations, (514) 340-5370, ; Investor relations: Andrew
Arnovitz, Director, Investor Relations, (514) 734-5760, ; Virgin
Atlantic Airways press office: + (44) 1293 747 373 ; On the Web:
http://www.cae.com/
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