Bombardier completed the sale of its flight and technical training business to CAE in a deal valued at $645 million, the Canadian airframer announced today. Net proceeds from the sale are expected to tally $500 million, after the assumption of certain liabilities, fees, and closing adjustments, Bombardier added. The conclusion of the agreement comes four months after the companies announced the proposed transaction in November.
The acquisition expands CAE’s portfolio of business aircraft training capabilities, with the addition of 12 full-flight simulators and several training devices covering Learjet, Challenger, and Global lines. This boosts CAE’s fleet of Bombardier business aircraft full-flight simulators to 29 worldwide, with plans for further growth both in the near and mid-term, the training specialist said. It also provides CAE with an increased pool of skilled training specialists.
The two companies extended their authorized training provider relationship until 2038.
Jean-Christophe Gallagher, v-p and general manager, customer experience, for Bombardier Business Aircraft, said the combination of Bombardier’s training resources with CAE’s network “will elevate the customer experience. As CAE expands its core training business, Bombardier continues to expand its service offerings and dedicated support, each to the benefit of Bombardier Business Aircraft customers around the world.”