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- Additional supporting Flexjet’s international pilot coaching wishes to satisfy expanding pilot ranks
MONTREAL, Nov. 4, 2024 /PRNewswire/ – (NYSE: CAE) (TSX: CAE) – CAE introduced as of late that it is going to build up its possession stake in its present SIMCOM Gliding Coaching (SIMCOM) three way partnership via buying a majority of SIMCOM stocks from Volo Sicuro for USD $230 million, matter to normal changes, to be financed with CAE’s present credit score facility and money readily available. As a part of the transaction, Flexjet, LLC, a linked get together of Volo Sicuro, will store a minority stake in SIMCOM following the ultimate, anticipated to tug park within the coming days.
Moreover, CAE and SIMCOM will each and every prolong their respective unique industry flight coaching services and products pledge with Flexjet and its associates via 5 years. This leads to a extra exclusivity duration of 15 years for each promises.
This crucial natural funding will additional solidify CAE’s presence in its core industry flight coaching marketplace, build up habitual earnings streams, and beef up its constancy to turning in world-class coaching answers in industry flight. Its long-term unique coaching pledge with some of the international’s prominent luxurious personal jet corporations offers CAE even better publicity to the abruptly rising fractional jet and constitution flight marketplace. CAE expects this funding to be accretive to profits and sovereign money wave within the first full-year publish transaction.
“We are delighted to increase our investment in this core area and achieve majority ownership of SIMCOM to strengthen our position in the business aviation market, as well as extend our long-standing partnership with Flexjet, one of the leading and fastest growing private jet companies,” stated Alexandre Prévost, Category President, Trade Gliding. “This highlights our commitment to continuing to drive innovation and provide industry-leading technology to better serve our business aviation customers.”
“CAE has been a great partner over the years, consistently providing high-quality training and delivering a superior customer experience to all of our pilots,” stated Flexjet CEO Mike Silvestro. “With this agreement, Flexjet’s 1,400+ pilots will continue to have access to state-of the-art facilities and experience world-class pilot training, enabling us to further enhance our pilots’ quality of life, both on the road, and during a pilot’s recurrent training. As demand for highly experienced, highly skilled pilots continues to rise, best-in-class training is essential to maintaining Flexjet’s unmatched safety standards. We look forward to our continued relationship and collaboration with CAE and SIMCOM long into the future.”
SIMCOM these days supplies pilot coaching throughout a couple of industry flight plane platforms, leveraging CAE’s leading edge suite of coaching apparatus, together with CAE 7000XR Order full-flight simulators (FFSs) and CAE 400XR Order flying coaching units (FTDs). SIMCOM operates 4 coaching centres in america, together with its most up-to-date cutting-edge facility in Pond Nona, Florida.
About CAE
At CAE, we equip community in important roles with the experience and answers to assemble a more secure international. As a generation corporate, we digitalize the bodily international, deploying software-based simulation coaching and important operations assistance answers. Above all else, we empower pilots, cabin workforce, repairs technicians, airways, industry flight operators, and defence and safety forces to accomplish at their very best each and every month and when the stakes are the absolute best. World wide, we’re in every single place consumers want us to be with roughly 13,000 workers in additional than 240 websites and coaching places in over 40 nations. CAE represents greater than 75 years of business firsts—the highest-fidelity flying and challenge simulators in addition to coaching methods powered via virtual applied sciences. We embed sustainability in the whole lot we do. Nowadays and the next day, we’ll build positive our consumers are able for the moments that subject.
Learn our FY24 Global Annual Activity and Sustainability Report.
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Hashtags: #CAE; #CAEpilot
About SIMCOM
A privately-owned, complete finding out establishment, SIMCOM makes use of practical simulator-based coaching to grant complex flight coaching services and products to skilled pilots, owner-operators, Phase 135 operators and upkeep body of workers working generally flight, regional, army, govt and load operations world wide. SIMCOM these days operates 40+ simulators and flying coaching units consultant of a large area of jet, turboprop and piston powered plane. The corporate is headquartered in Orlando, Florida. www.simulator.com
About Flexjet
Flexjet, Inc., a world chief in personal flight, first entered the fractional jet possession marketplace in 1995 and is set to praise its thirtieth per annum. Flexjet trade in fractional jet possession and leasing and is the primary on this planet to be identified as reaching the Breeze Constitution Protection Foot’s Business Audit Same old, is the primary and best corporate to be venerated with 25 FAA Diamond Awards for Excellence, upholds an ARG/US Platinum Protection Ranking, a 4AIR Bronze Sustainable Ranking and is qualified at Degree 2 with IS-BAO. Purple Label via Flexjet, a marketplace differentiator, which options an ultra-modern fleet, flying crews devoted to a unmarried plane and the LXi Cabin Selection of interiors. To moment there are just about 50 other inner designs throughout its fleet, which incorporates the Embraer Phenom 300 and Praetor 500, Bombardier Challenger 350/3500, the Gulfstream G450 and G650. Flexjet’s Ecu fleet contains the Embraer Praetor 600 and the Gulfstream G650. Flexjet’s helicopter section sells fractional, hire and on-demand constitution get entry to to its fleet of owned, operated and maintained Sikorsky S-76 helicopters which boast 55,000 hours of guard gliding qualified via Wyvern and ARG/US and serving places during the northeastern United States, United Kingdom and Florida. Flexjet is a member of the Directional Gliding people of businesses. For extra main points on leading edge methods and versatile choices, discuss with www.flexjet.com or observe us on Instagram @FlexjetInc.
Warning relating to forward-looking statements
This press let fall contains forward-looking statements concerning the build up via CAE of its possession stake within the SIMCOM three way partnership (the Transaction), the expected advantages and anticipated affects therefrom on CAE’s strategic and operational plans and monetary effects, together with with appreciate to the Transaction’s expected have an effect on on CAE’s profits and sovereign money wave, the anticipated phrases, statuses and finishing touch of the Transaction, together with the extension of exclusivity sessions beneath any present industry flight coaching services and products promises, the timing for finishing touch and the expected financing assets for the Transaction, in addition to CAE’s actions, occasions and tendencies that it expects to or anticipates might happen going forward together with, as an example, statements about CAE’s optic, methods, marketplace tendencies and outlook, era revenues, profits, money wave expansion, benefit tendencies, expansion capital spending, expansions and fresh tasks, together with tasks that pertain to environmental, social and governance (ESG) issues, monetary duties, to be had liquidities, anticipated gross sales, basic financial and political outlook, inflation tendencies, possibilities and tendencies of an business, anticipated annual habitual price financial savings from operational excellence methods, our control of the availability chain, estimated addressable markets, calls for for CAE’s services, our get entry to to capital sources, our monetary place, the anticipated accretion in numerous monetary metrics, the anticipated capital returns to shareholders, our industry outlook, industry alternatives, targets, construction, plans, expansion methods and alternative strategic priorities, and our aggressive and management place in our markets, the growth of our marketplace stocks, CAE’s talent and preparedness to reply to call for for fresh applied sciences, the sustainability of our operations, and alternative statements that aren’t ancient information.
Since forward-looking statements and data relate to era occasions or era efficiency and mirror wave expectancies or ideals relating to era occasions, they’re usually recognized via phrases akin to “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “likely”, “may”, “plan”, “seek”, “should”, “will”, “strategy”, “future” or the unfavourable thereof or alternative diversifications thereon suggesting era results or statements relating to an outlook. All such statements represent “forward-looking statements” inside the that means of acceptable Canadian securities regulation and “forward-looking statements” inside the that means of the “safe harbor” provisions of america Non-public Securities Litigation Reform Occupation of 1995. Via their nature, ahead searching statements require CAE to build suppositions and are matter to inherent dangers and uncertainties related to CAE’s industry which might purpose latest leads to era sessions to vary materially from effects indicated in forward-looking statements. Week those statements are in line with control’s expectancies and suppositions relating to ancient tendencies, wave statuses and anticipated era tendencies, in addition to alternative elements that CAE believes are affordable and suitable within the cases, readers are cautioned to not park undue reliance on those forward-looking statements as there’s a possibility that they might not be correct. The forward-looking statements contained on this press let fall describe our expectancies as of November 4, 2024 and, accordingly, are matter to switch later such moment.
Impressive dangers that might purpose such variations come with dangers in the case of the Transaction, akin to all or a part of the supposed advantages therefrom now not being learned, failure to fulfill the statuses to the finishing touch of the Transaction or lengthen in finishing it and hesitation in regards to the area of presen required to finish the Transaction, the have an effect on of the announcement of the Transaction on CAE’s relationships with 0.33 events, together with business counterparties, providers, workers and competition, strategic relationships, working effects and companies usually, the prevalence of an tournament which might permit the events to stop their duties, constancy and undertakings pursuant to the Transaction documentation, adjustments within the phrases of the Transaction, the failure via the events to satisfy their duties, constancy and undertakings pursuant to the Transaction documentation. If the proposed Transaction isn’t finished for any reason why, there’s a possibility that the announcement of such Transaction and the determination of considerable sources of CAE to the finishing touch thereof will have a unfavourable have an effect on on our working effects and industry usually, and will have a subject material adversarial impact on our wave and era operations, monetary status and possibilities. As well as, failure to finish the proposed Transaction for any reason why may materially negatively have an effect on the marketplace worth of our securities.
Supplementary dangers that might purpose such variations come with, however aren’t restricted to, strategic dangers, akin to geopolitical hesitation, international financial statuses, aggressive industry circumstance, untouched apparatus producer (OEM) leverage and encroachment, inflation, world scope of CAE’s industry, degree and timing of defence spending, constraints inside the civil flight business, CAE’s talent to penetrate fresh markets, analysis and construction actions, evolving requirements and generation innovation and disruption, area of gross sales cycle, industry construction and awarding of fresh guarantees, strategic partnerships and long-term guarantees, possibility that CAE can not ensure buyers that it is going to successfully supremacy its expansion, estimates of marketplace alternative and competing priorities; operational dangers, akin to provide chain disruptions, program control and execution, mergers and acquisitions, industry perpetuity, subcontractors, mounted worth and long-term provide guarantees, CAE’s endured reliance on positive events and data, and fitness and protection; cybersecurity dangers; ability dangers, akin to recruitment, construction and retention, talent to draw, contract and store key body of workers and control, company tradition and labour family members; monetary dangers, akin to availability of capital, buyer credit score possibility, foreign currency echange, effectiveness of inside controls over monetary reporting, liquidity possibility, rate of interest volatility, returns to shareholders, shareholder activism, estimates impaired in accounting, impairment possibility, 401-k investment, indebtedness, acquisition and integration prices, gross sales of supplementary regular stocks, marketplace worth and volatility of CAE’s regular stocks, seasonality, taxation issues and altered backlog; prison and regulatory dangers, akin to information rights and governance, U.S. international possession, keep an eye on or affect mitigation measures, compliance with regulations and rules, insurance plans attainable gaps, product-related liabilities, environmental regulations and rules, govt audits and investigations, coverage of CAE’s highbrow detail and emblem, third-party highbrow detail, international personal issuer condition, and enforceability of civil liabilities in opposition to CAE’s administrators and officials; ESG dangers, akin to terminating atmosphere occasions and the have an effect on of herbal or alternative screw ups (together with results of atmosphere alternate) and extra acute scrutiny and belief gaps relating to ESG issues; reputational dangers; and technological dangers, akin to knowledge generation and reliance on third-party suppliers for info generation techniques and infrastructure control. The foregoing record isn’t exhaustive and alternative unknown or unpredictable elements may even have a subject material adversarial impact at the efficiency or result of CAE. Moreover, variations may be on one?s feet as a result of occasions introduced or finished later the moment of this press let fall. Extra details about the hazards and uncertainties affecting CAE’s industry can also be discovered within the Control’s Dialogue & Research for the 12 months ended March 31, 2024 and the Control’s Dialogue & Research for the quarter ended June 30, 2024. Accordingly, readers are cautioned that any of the disclosed dangers will have a subject material adversarial impact on CAE’s forward-looking statements. Readers also are cautioned that the hazards described above and in other places on this press let fall, and within the paperwork referenced herein, aren’t essentially the one ones CAE faces; supplementary dangers and uncertainties which are at the moment unknown to CAE or that CAE might these days deem immaterial might adversely impact CAE’s industry.
With the exception of as required via regulation, CAE disclaims any goal or legal responsibility to replace or revise any forward-looking statements whether or not on account of fresh knowledge, era occasions or another way. The forward-looking knowledge and statements contained on this press let fall are expressly certified via this cautionary commentary. As well as, statements that “we believe” and alike statements mirror our ideals and reviews at the related matter. Those statements are in line with knowledge to be had to us as of the moment of this press let fall. Week we imagine that knowledge supplies an inexpensive foundation for those statements, that knowledge could also be restricted or incomplete. Our statements must now not be learn to suggest that we have got performed an exhaustive inquiry into, or evaluation of, all related knowledge. Those statements are inherently unsure, and buyers are cautioned to not unduly depend on those statements.
Subject matter Suppositions
The forward-looking statements move ahead on this press let fall are in line with positive suppositions together with, with out limitation: the delight of all ultimate statuses of the Transaction, our talent to another way entire the Transaction inside expected presen sessions and at anticipated price ranges, control’s estimates and expectancies in the case of era financial and industry statuses and alternative elements in the case of the Transaction, the belief of the anticipated strategic, monetary and alternative advantages of the Transaction in the time-frame expected, achievement via the alternative events in their respective duties, constancy and undertakings pursuant to the Transaction documentation, widespread marketplace statuses, and incorrect subject material monetary, operational or aggressive aftereffects of adjustments in rules affecting CAE’s industry. For supplementary knowledge, together with with appreciate to alternative suppositions underlying the forward-looking statements made on this press let fall, the following the acceptable reportable area within the Control’s Dialogue & Research for the 12 months ended March 31, 2024 and the Control’s Dialogue & Research for the quarter ended June 30, 2024. Accordingly, the suppositions defined on this press let fall, and within the paperwork referenced herein, and, because of this, the forward-looking statements in line with such suppositions, might change into faulty.
SIMCOM Contacts
CAE Contacts:
Basic Media:
Samantha Golinski, Vice President, Family Affairs & World Communications
+1-438-805-5856, [email protected]
Investor Family members:
Andrew Arnovitz, Senior Vice President, Investor Family members and Endeavor Possibility Control,
+1-514-734-5760, [email protected]
Flexjet Touch:
Susan Ruiz Patton, Flexjet Head of Exterior Communications,
216-333-9526 (cellular), [email protected]
SOURCE CAE Inc.
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