(NYSE: CAE; TSX: CAE) – CAE announced today at the 2018 European
Airline Training Symposium (EATS), that it has signed a long-term
training contract with easyJet valued at more than C$170 million
over the next 10 years. Under the agreement, all of easyJet’s
pilots will train at CAE, which will expand its training network to
provide the airline with three new European pilot training
locations, equipped with a fleet of CAE’s latest XR Series flight
simulators. CAE will provide easyJet with state-of-the-art pilot
training solutions at training centres located in London Gatwick
and Manchester in the UK, as well as Milan, Italy.
CAE will build a new state-of-the-art training centre in
London-Gatwick with a dedicated space to serve easyJet’s training
needs and will deploy nine Airbus A320-family full-flight
simulators (FFSs) and three flight training devices (FTDs) in the
new London Gatwick centre, and two additional training locations in
Manchester, UK and Milan, Italy. The centres will be ready for
training starting in the second half of 2019.
Chris Browne, easyJet’s Chief Operating Officer
commented: “The safety and welfare of our customers and
crew is easyJet’s number one priority and by choosing CAE as our
training partner of choice and investing in the most advanced
technologies, we not only continue to enhance the quality of our
pilot training, we maintain and enhance our commitment to safety.
This represents one of the biggest deals of its kind in Europe in
the last five years and we are pleased to be working with CAE as a
trusted and highly innovative training provider to help ensure
easyJet is a centre of excellence for crew training.”
Marc Parent, CAE’s President and Chief Executive Officer
said:“This agreement is based on training excellence and
represents a major step forward in the evolution of CAE’s
relationship with easyJet. It’s a prime example of CAE’s commitment
to provide our airline partners with the most innovative training
solutions and to deliver the greatest training experience. As well,
our expanded footprint will help us address customer demand by
further strengthening CAE’s presence in the UK and Europe.”
easyJet launch customer for new CAE 600XR
FTDseasyJet will be utilizing the latest generation of
flight simulators, including the CAE 7000XR Series full-flight
simulator with enhanced features such as the next-generation
instructor office for improved training efficiency and embedded
training capabilities to address new EASA regulations related to
Upset Prevention and Recovery Training (UPRT). easyJet will also be
the first airline to train its pilots using CAE’s latest generation
of FTDs, the CAE 600XR Series flight training device (FTD) with CAE
Tropos™ 6000XR collimated visual system and a fully enclosed
instructor area. The CAE 600XR FTD adds flexibility to easyJet’s
training curriculum with the highest training device fidelity
available in the fixed base training market. Offering the same
simulation fidelity as the CAE 7000XR Series FFS and common
features including CAE XR simulation fidelity and instructor
interface, CAE XR lesson and flight plan upload capabilities, the
CAE 600XR FTD ensures easyJet pilots will receive training
following the highest industry standards in an environment that is
consistent across all platforms.
During easyJet’s fiscal year 2018 ending September 30, 2018, the
airline has recruited 460 pilots – a pilot recruitment record for
the airline for a third consecutive year as easyJet continues to
expand its operation across Europe. In the last year alone easyJet
has added bases to its network in Berlin Tegel and Bordeaux and now
flies over 1,000 routes on over 300 Airbus A320 family aircraft. In
July 2018 easyJet took delivery of the first of 30 A321neo aircraft
which will bring significant environmental, operational and cost
benefits to its operation.
CAE has been delivering pilot training solutions to easyJet
pilots since 2004, including creating and training professional
pilots across its network. In 2010, easyJet selected CAE as its
launch partner for an industry-leading cadet Pilot Programme based
on the Multi-Crew Pilot Licence (MPL). To date, CAE has selected,
assessed, trained and delivered more than 900 co-pilots and
captains through the easyJet MPL Integrated ATPL and type-rating
training programmes for the airline.
Update to CAE management outlook for fiscal
2019CAE expects to invest approximately $50 million during
its fiscal year 2019 to expand its training network in support of
this long-term training agreement with easyJet. This amount is in
addition to the Company’s previously disclosed, expected annual
capital expenditure outlook of approximately $200 million, and
brings the new annual capital expenditure estimate for CAE to $250
million. This is in line with CAE’s priority to make capital
investments offering sustainable and profitable growth and
accretive returns, and support its strategy to be the recognized
worldwide training partner of choice.
About CAECAE is a global leader in training for
the civil aviation, defence and security, and healthcare markets.
Backed by a record of more than 70 years of industry firsts, we
continue to help define global training standards with our
innovative virtual-to-live training solutions to make flying safer,
maintain defence force readiness and enhance patient safety. We
have the broadest global presence in the industry, with over 9,000
employees, 160 sites and training locations in over 35 countries.
Each year, we train more than 120,000 civil and defence crewmembers
and thousands of healthcare professionals worldwide. www.cae.com.
Follow us on Twitter: CAE_Inc
Caution concerning forward-looking
statementsCertain statements made in this press release
are forward-looking statements. These statements include, without
limitation, statements relating to our fiscal 2019 capital
investment guidance and other statements that are not historical
facts. Forward-looking statements are typically identified by
future or conditional verbs such as anticipate, believe, expect,
and may. All such forward-looking statements are made pursuant to
the 'safe harbour' provisions of applicable Canadian securities
laws and of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking statements, by their very nature, are
subject to inherent risks and uncertainties and are based on
several assumptions, both general and specific, which give rise to
the possibility that actual results or events could differ
materially from our expectations expressed in or implied by such
forward-looking statements and that our business outlook,
objectives, plans and strategic priorities may not be achieved. As
a result, we cannot guarantee that any forward-looking statement
will materialize and we caution you against relying on any of these
forward-looking statements. The forward-looking statements
contained in this press release describe our expectations as of
November 6, 2018 and, accordingly, are subject to change after such
date. Except as may be required by Canadian securities laws, we do
not undertake any obligation to update or revise any
forward-looking statements contained in this news release, whether
as a result of new information, future events or otherwise. Except
as otherwise indicated by CAE, forward-looking statements do not
reflect the potential impact of any special items or of any
dispositions, monetizations, mergers, acquisitions, other business
combinations or other transactions that may occur after November 6,
2018. The financial impact of these transactions and special items
can be complex and depends on the facts particular to each of them.
We therefore cannot describe the expected impact in a meaningful
way or in the same way we present known risks affecting our
business. Forward-looking statements are presented in this press
release for the purpose of assisting investors and others in
understanding certain key elements of our expected fiscal 2019
financial results and in obtaining a better understanding of our
anticipated operating environment. Readers are cautioned that such
information may not be appropriate for other purposes. The value of
capital investments expected to be made by CAE in fiscal 2019
assumes that capital investments will be made in accordance with
our current annual plan. However, there can be no assurance that
such investment levels will be maintained with the result that the
value of actual capital investments made by CAE during such period
could materially differ from current expectations.
easyJet contacts:
For further information, please contact the easyJet press office
on 01582 525252, log onto easyJet.com Or follow us on Facebook,
Twitter and Instagram @ easyJet
CAE contacts:General Media:
Hélène V. Gagnon, Vice President, Public Affairs and Global
Communications, +1-514-340-5536, helene.v.gagnon@cae.com
Trade Media:Frédéric Morais, Director,
Marketing & Strategy, Civil Aviation Training Solutions,
+1-514-506-8331, frederic.morais@cae.com
Investor relations: Andrew Arnovitz, Vice
President, Strategy and Investor Relations, +1-514-734-5760,
andrew.arnovitz@cae.com
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