CAE to enter 15 year exclusive business aviation training services agreement with DAC

CAE entered (29-Aug-2019) a strategic partnership and 15 year exclusive business aviation training services agreement with Directional Aviation Capital (DAC), a corporate aviation service company. As part of this transaction:

• CAE will form a JV with DAC's affiliate Volo Sicuro, and acquire a 55% stake in SIMCOM Holdings, for approximately USD85 million;
• DAC's affiliated business aircraft operators, which include Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace and Corporate Wings will enter into a 15 year exclusive training services agreement with SIMCOM and with CAE. Together, these aircraft operators have a growing fleet of approximately 175 business aircraft;
• To enhance its training offering, SIMCOM will purchase equipment from CAE's latest product offering, including five full flight simulators.

The transaction is subject to customary closing conditions. [more - original PR]