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CAE shares up as company hits FY2011 sales target

CAE has announced CAD45 million in contracts with Virgin America and China Southern Airlines, taking its FY2011 civil full-flight simulator sales to 29. China Southern Airlines and CAE have expanded their Zhuhai training joint venture to provide civil helicopter training in Asia, while Virgin America and CAE will establish new A320 pilot training centre in San Francisco.

Shares in CAE rose 3.9% in trading on Wednesday, in a mixed day for aerospace industry shares. Shares gains were also recorded by EADS (+2.4%) and Rolls-Royce and Zodiac Aerospace, both up 1.7%. AviChina shares dropped 2.4%.

Selected aerospace industry daily share price movements (% change): 3o-Mar-2011