Iberia retains CAE to provide pilot training for at least another decade

MONTREAL – CAE Inc. will train more than 1,000 pilots a year for Iberia, the Spanish airline, under a contract renewal announced Wednesday.

The Montreal-based company (TSX:CAE) operates a training centre near Madrid that has 10 full flight simulators used to train airline pilots.

The Iberia contract renewal was one of several announced Wednesday.

CAE said the total value of the contracts was $100 million but didn’t provide specific financial information about individual agreements.

In addition to the Iberia contract renewal, which will last more than a decade, CAE has renewed a long-term agreement with Turkish Airlines and reached a service agreement with Compass Airlines.

CAE also says it has sold a full-flight simulator to an unidentified customer in the United States and other training equipment to Aegean, the largest airline in Greece.