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AirAsia and CAE sign training agreement

Travel News Asia 25 February 2004

AirAsia has signed a 10-year aviation training agreement with CAE, a leading provider of integrated training solutions and advanced simulation and control technologies to the aviation industry.

Under the agreement, CAE is commissioned to install and operate a Boeing 737 full-flight simulator, which will be used to train Boeing 737-300/400/500 pilots. AirAsia will be the anchor customer, with additional capacity being sold to third-party customers.

The simulator is expected to be installed as early as fall 2004 at the airlines new six-bay training centre near Kuala Lumpur International Airport. Based on list prices for training and expected simulator usage, including third parties, CAE forecasts C$16 million in revenue over the life of the agreement.

AirAsia looks forward to building and retaining a mutually beneficial relationship with CAE, which is widely recognized as an industry leader in the training market. This is especially important for us as AirAsia pursues its fleet expansion and growth strategy to provide more low fares so more people can fly, said Tony Fernandes, chief executive officer of AirAsia.

This new relationship with a leading low-cost carrier in Asia puts CAE in a strong position to seize a sizable portion of this growing market, said Nick Leontidis, CAEs executive vice-president, customers, civil simulation and training.

A final agreement between the two parties is subject to government approval.

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