Simuflite to train all Flight Options pilots

 - January 31, 2007, 11:27 AM

In the single largest training agreement in its history, Dallas-based CAE SimuFlite will soon start training all 900-plus pilots of Flight Options, the second-largest fractional aircraft ownership operation in the world. The exclusive three-year agreement, with an option for two more years, is valued at about $28 million and is effective starting this month.

If exercised, the additional two-year contract option would bring the value to $48 million over five years. Before this agreement, Flight Options sent its pilots to several training organizations, including SimuFlite and FlightSafety International of Flushing, N.Y. (FlightSafety and NetJets, the largest fractional provider, are both owned by Berkshire Hathaway.)