CAE Secures $76M in Training Contracts From Military, Industry; Gene Colabatistto Comments

TYSONS CORNER, VA, Oct. 19, 2016 ” CAE (NYSE: CAE) has secured contracts worth $76.3 million combined from the U.S. Air Force and U.S. Navy as well as Boeing‘s (NYSE: BA) Insitu subsidiary and Rotorsim to provide aircrew training services, ExecutiveBiz reported Tuesday.

The training services will cover operators and crew on the KC-135, T-44C and ScanEagle aircraft as well as helicopter simulators, CAE said Tuesday.

“The KC-135 and T-44C aircrew training services contracts are prime examples of long-term contracts that provide sources of recurring revenue for CAE, while the contract to provide ScanEagle remotely piloted aircraft system instructors for Insitu’s training center is another win in the growing RPAS training market, ” said Gene Colabatistto, president of CAE’s defense and security group.

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