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CAE Gets C$25M In New Business (July 12)

TORONTO---CAE has reached aviation training agreements worth approximately C$25 million with four new training customers, including a 10-year agreement for Air New Zealand. The other new customers are American Eagle, Atlantic Coast Airlines and South African Express Airways. The company also announced that its Denver aviation training centre is now operational.

As a result of Air New Zealand's selection of the Airbus A320 aircraft, CAE is working with Airbus to provide flight-crew training for the airline. This will initially involve Air New Zealand pilots being trained by Airbus, with CAE providing additional and follow-up training under a 10-year agreement. As part of the agreement, CAE will install a new A320 Full Flight Simulator (FFS) at the Air New Zealand Training Centre in Auckland. This FFS will be operational by the end of 2003, providing easily accessible pilot training at the airline's home base.

At CAE's Denver aviation training centre, the company has signed a one- year contract with American Eagle for Bombardier CRJ700 pilot training and has reached an agreement with Atlantic Coast Airlines for Bombardier CRJ200 training. Both new customers will begin training by August 2002. The Denver training centre commenced operations on June 28, 2002, with anchor tenant Frontier Airlines on the A320 FFS. Denver's other anchor customer, Air Wisconsin, begins CRJ200 training in August.

CAE's Madrid aviation training centre has signed a three-year contract with South African Express Airways for Bombardier CRJ200 and Dash 8 FFS training. The Madrid training centre began operations in December 2001 with anchor customer Air Nostrum.

With a network of aviation training centres strategically located around the world, CAE offers training in 16 locations, with a fleet of 66 full flight simulators by the end of July 2002, serving major and regional airlines, business aircraft and helicopter operators. CAE expects to have an installed base of more than 80 full flight simulators by the end of March 2003.

CAE is a global leader in providing advanced simulation and controls equipment and integrated training solutions for customers in the civil aviation, military and marine markets. CAE employs more than 6,000 people in Canada, the United States and around the globe. With annual revenues in excess of $1 billion, CAE is the world leader in the sale of civil flight simulators and the second largest independent civil aviation training provider.

CAE Announces C$25 Million In New Aviation Training Business