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CAE Expands Stake in SIMCOM Aviation Coaching, Extends Unique Coaching Settlement with Flexjet
Tuesday, November 5, 2024
CAE introduced plans to broaden its stake in SIMCOM Aviation Coaching by buying a majority of shares from Volo Sicuro for USD $230 million, pending customary changes. The transaction, anticipated to shut quickly, will probably be funded by CAE’s current credit score facility and money reserves. Flexjet, LLC, affiliated with Volo Sicuro, will retain a minority stake in SIMCOM post-closing.
This strategic funding enhances CAE’s footprint in enterprise aviation coaching, strengthens recurring income, and underscores its dedication to offering top-tier coaching options. With a long-term unique coaching partnership with Flexjet, CAE additional faucets into the increasing fractional jet and constitution aviation market. CAE anticipates this funding will enhance earnings and free money stream inside the first full 12 months post-transaction.
“We are delighted to increase our investment in this core area and achieve majority ownership of SIMCOM to strengthen our position in the business aviation market, as well as extend our long-standing partnership with Flexjet, one of the leading and fastest growing private jet companies,” stated Alexandre Prévost, Division President, Enterprise Aviation. “This highlights our commitment to continuing to drive innovation and provide industry-leading technology to better serve our business aviation customers.”
“CAE has been a great partner over the years, consistently providing high-quality training and delivering a superior customer experience to all of our pilots,” stated Flexjet CEO Mike Silvestro. “With this agreement, Flexjet’s 1,400+ pilots will continue to have access to state-of the-art facilities and experience world-class pilot training, enabling us to further enhance our pilots’ quality of life, both on the road, and during a pilot’s recurrent training. As demand for highly experienced, highly skilled pilots continues to rise, best-in-class training is essential to maintaining Flexjet’s unmatched safety standards. We look forward to our continued relationship and collaboration with CAE and SIMCOM long into the future.”
SIMCOM, which presents pilot coaching throughout numerous enterprise aviation platforms, makes use of CAE’s superior coaching tools, together with the CAE 7000XR Collection full-flight simulators and CAE 400XR Collection coaching gadgets. SIMCOM operates 4 U.S.-based coaching facilities, with its newest state-of-the-art facility positioned in Lake Nona, Florida.
