CAE has entered into a strategic partnership with Directional Aviation Capital (DAC). As part of this transaction, CAE will form a joint venture with DAC’s affiliate, Volo Sicuro and acquire a 50% stake in SIMCOM Holdings for approximately US$85 million. In addition, 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 rapidly growing fleet of approximately 175 business aircraft. In addition, 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.