CAE raises simulator sales forecast for year after winning US$350M contracts

MONTREAL – CAE Inc. said it expects to sell more flight simulators this year than it previously thought after announcing contracts valued at more than US$350 million,

The Montreal-based company now expects to sell more than the 41 full-flight simulators it sold in the last fiscal year after making 39 sales in the first three quarters of fiscal 2016.

CAE (TSX:CAE) said it secured commercial and business aviation training contracts with more than 10 operators, including a four-year deal with an undisclosed North American customer to train pilots.

It also sold more than $100 million in training programs with more than 10 business aviation operators in the United States, Europe, Asia and the Middle East.