CAE to enter 15-year exclusive business aviation training services agreement with Directional Aviation Capital affiliates and acquire fifty-percent of SIMCOM
CAE Inc. Ordinary Shares (CAE)
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Source: PR Newswire
Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace and Corporate Wings to train exclusively with SIMCOM and CAE MONTREAL, Aug. 29, 2019 /PRNewswire/ - (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 purc
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