L3 Commits $100 Million Investment in U.K.’s Commercial Aviation Industry Through Soon-to-Open London Training Center
July 16 2018 - 3:00AM
Business Wire
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.
Headquartered in New York City, L3 Technologies employs
approximately 31,000 people worldwide and is a leading provider of
a broad range of communication, electronic and sensor systems used
on military, homeland security and commercial platforms. L3 is also
a prime contractor in aerospace systems, security and detection
systems, and pilot training. The company reported 2017 sales of
$9.6 billion.
To learn more about L3, please visit the company’s website at
www.L3T.com. L3 uses its website as a channel of distribution of
material company information. Financial and other material
information regarding L3 is routinely posted on the company’s
website and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995Except for historical information contained
herein, the matters set forth in this news release are
forward-looking statements. Statements that are predictive in
nature, that depend upon or refer to events or conditions or that
include words such as “expects,” “anticipates,” “intends,” “plans,”
“believes,” “estimates,” “will,” “could” and similar expressions
are forward-looking statements. The forward-looking statements set
forth above involve a number of risks and uncertainties that could
cause actual results to differ materially from any such statement,
including the risks and uncertainties discussed in the company’s
Safe Harbor Compliance Statement for Forward-Looking Statements
included in the company’s recent filings, including Forms 10-K and
10-Q, with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.
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