SIA-CAE pilot training joint venture in Singapore to commence operations

Date : 07/18/2018 @ 5:15AM
Source : GlobeNewswire Inc.
Stock : Cae Inc. Ordinary Shares (CAE)
Quote : 19.85  0.37 (1.90%) @ 3:59PM

SIA-CAE pilot training joint venture in Singapore to commence operations

Cascade (NYSE:CAE)
Historical Stock Chart

1 Month : From Jul 2018 to Aug 2018

Click Here for more Cascade Charts.

Singapore Airlines (SIA) and CAE (NYSE:CAE) (TSX:CAE) announced today that they will launch operations of their new Singapore CAE Flight Training Pte. Ltd. (SCFT) joint venture for pilot training in Singapore next month. SIA and CAE have concluded the establishment of the joint venture company and all regulatory approvals have been obtained. Plans for the joint venture were announced in August last year, when a Memorandum of Understanding was signed.

The joint venture will provide simulator and classroom training with an initial focus on Boeing aircraft types, supporting SIA Group airlines and other operators’ pilot training needs in the region. The equally-owned joint venture will operate out of the Singapore Airlines Training Centre (STC) located near Changi Airport.

SIA will transfer four of its full-flight Boeing aircraft simulators to the venture, while additional new CAE-built training equipment including the Boeing 737 MAX and 787 aircraft type full-flight simulators and flight training devices will be deployed by June 2019. The training facility will provide a full range of initial type rating and recurrent training programmes for Boeing 737 MAX, 747, 777 and 787 aircraft types. 

“The establishment of Singapore CAE Flight Training brings together the expertise of both SIA and CAE to cater to increasing demand for trained pilots worldwide fuelled by the industry’s strong growth. The joint venture will support the SIA Group’s fleet and network expansion plans, as well as our strategy to develop new revenue-generation opportunities through adjacent businesses. It will also continue to further enhance Singapore’s position as a leading aviation hub,” said Singapore Airlines CEO, Mr Goh Choon Phong.

“CAE is very proud to officially begin our training joint venture operations with our partner of more than 40 years. Together, Singapore Airlines and CAE will deliver world-class pilot training to Singapore Airlines and to other airlines in the region, supporting the fast-growing training needs of operators in Asia-Pacific. We are committed to offering the most innovative and best training experiences to our airline partners and we look forward to continuing to shape the future of training in partnership with Singapore Airlines,” said CAE’s President and CEO, Mr Marc Parent.

About Singapore Airlines

The SIA Group’s history dates back to 1947 with the maiden flight of Malayan Airways Limited. The airline was later renamed Malaysian Airways Limited and then Malaysia-Singapore Airlines (MSA). In 1972, MSA split into Singapore Airlines (SIA) and Malaysian Airline System. Initially operating a modest fleet of 10 aircraft to 22 cities, SIA has since grown to be a world-class international airline group.

Singapore Airlines is committed to the constant enhancement of the three main pillars of its brand promise: Service Excellence, Product Leadership and Network Connectivity. The SIA Group fleet and network are also expanding in support of the development of its portfolio strategy, in which it has investments in both full-service and low-cost airline operations. This portfolio of airlines serving short-, medium-, and long-haul markets gives the SIA Group more flexibility and nimbleness, with the right vehicles to serve the right markets.

About CAE

CAE is a global leader in training for the civil aviation, defence and security, and healthcare markets. Backed by a record of more than 70 years of industry firsts, we continue to help define global training standards with our innovative virtual-to-live training solutions to make flying safer, maintain defence force readiness and enhance patient safety. We have the broadest global presence in the industry, with over 8,500 employees, 160 sites and training locations in over 35 countries. Each year, we train more than 120,000 civil and defence crewmembers and thousands of healthcare professionals worldwide. www.cae.com

For further information, please contact:

Singapore Airlines Public Affairs+65 6541-5880 (office hours)+65 9753-2126 (after office hours)public_affairs@singaporeair.com.sg

CAE General Media Hélène V. Gagnon, Vice President, Public Affairs and Global Communications+1-514-340-5536, helene.v.gagnon@cae.com

CAE Investor Relations Andrew Arnovitz, Vice President, Strategy and Investor Relations+1-514-734-5760, andrew.arnovitz@cae.com

CAE Trade MediaFrédéric Morais, Marketing Leader, Civil Aviation Training Solutions+1-514-506-8331, frederic.morais@cae.com 

Latest CAE Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.