Training technology manufacturer CAE Inc. has come to an agreement with investment firm Directional Aviation Capital (DAC) to provide training for six DAC business aircraft operators.
The agreement also stipulates that CAE acquire a 50 per cent stake worth $85 million in Simcom Holdings, a DAC-owned simulation training provider.
“Our investment in Simcom is another step in the expansion of CAE’s business aviation training business that gives us access to a rapidly growing customer base as Directional Aviation affiliates’ exclusive training partner for the next 15 years,” said CAE president and CEO Marc Parent.
The companies CAE and Simcom have an agreement to train are Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace, and Corporate Wings, which have a combined fleet of 175 business aircraft.
Simcom will also purchase equipment from the Montreal, Canada branch of CAE, including five full-flight simulators, as part of the training agreement.
“We have a clear vision for Simcom’s future as an innovative training provider focused on the owner-flown market, as well as fleet operators,” said Simcom president and CEO Eric Hinson.
“We are extremely pleased to partner with CAE and leverage its industry-leading technology and training expertise to better serve our customers.”