L3 Commits $100 Million Investment in U.K.’s Commercial Aviation Industry Through Soon-to-Open Londo
L3 Technologies (NYSE:LLL) announced today that it is investing more than $100 million in its soon-to-open London Training Center, supporting London Gatwick as the epicenter of its worldwide commercial pilot training operations. This significant commitment from L3 is designed to meet increasing airline customer demand and to help address the worldwide shortage of commercial pilots. The investment will ensure that L3 Commercial Aviation continues to provide an industry-leading experience for pilots and cadets, and reflects the U.K.'s crucial role in the industry.
"We are excited to be making this commitment to L3's operations and presence in the U.K.," said Christopher E. Kubasik, L3's Chairman, Chief Executive Officer and President. "In particular, this investment reflects our confidence in the growth and opportunities available in the commercial aviation sector and the need to train new airline pilots across the world."
Demand at the new facility has been strong, with many customers already confirmed to start training at the London Training Center when it opens in the first quarter of 2019. These include easyJet, WOW air, Norwegian and TUI. The facility will also support L3 Airline Academy cadet training programs.
The London Training Center will also house a production facility capable of manufacturing 30 Full Flight Simulators (FFS) per year. The increased FFS manufacturing capacity will be crucial in allowing the company to meet growing demand for its RealitySeven™FFS devices.
"We look forward to opening the doors to our new London Training Center early next year and welcoming both current and new customers, pilots and cadets. Response from customers keen to train their pilots in our state-of-the-art environment has been incredible," added Robin Glover-Faure, President of Commercial Training Solutions, which is part of L3 Commercial Aviation. "The investment in the London Training Center will support the local region and the wider commercial aviation sector, and will help fuel our ongoing growth."
When fully operational, the London Training Center will include eight L3 RealitySeven FFS, four high-fidelity L3 Flight Training Devices, eight Flat Panel Trainers, eight classrooms and briefing rooms, as well as the production facility. In total, the facility will be home to more than 350 jobs.