CAE Acquires AirAsia's Share of the Asian Aviation Centre of Excellence (AACE) for US$100 Million


 
 
11:16 11/21/2017

A Canadian company that manufactures and supplies simulation equipment for aircrafts around the world, CAE, Inc. CAE , has bought out AirAsia’s share of the Asian Aviation Centre of Excellence (AACE) for US$100 million.

CAE is currently an industry-leading trainer for civil aviation, defense and security. They are dedicated to provide virtual-to-live solutions to make flying safer and enforcing safety during rough turbulence and harsh winds.

The acquisition helps separate CAE CAE  from the rest of the competition and allows them to expand its footprint in the fast-growing Asia Pacific aviation market. Also, they establish its position as the international training partner of choice.

AACE has three training centers located in Kuala Lumpur, Malaysia; Singapore; and Ho Chi Minh City, Vietnam containing approximately 150 employees. All current and future employees will be working under CAE's operation.

Marc Parent, CAE’s {NYSE:CAE] President and CEO said, “As we conclude the transaction and launch a new phase in our relationship, I would like to once again thank AirAsia for their confidence in CAE.”

“We are pleased to welcome the AACE team to CAE. Together, we will continue to build on the world-class training experience that our customers have come to expect. We look forward to continuing to shape the future of training with you,” Parent added.

CAE will continue to offer training for pilots, cabin crew, maintenance engineers, technicians, and ground services personnel and remain as AirAsia’s exclusive training partner of choice. CAE has been reputable for the past 70 years when it comes to simulation air-flight training.

CAE CAE  shares are trading up 49% year on end as the price itches near the company’s all time high. This is something to keep an eye on in the next couple months.


This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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