AirAsia and CAE extend business

AirAsia and CAE, a global leader in training for the civil aviation, defence and security, and healthcare markets, have concluded a sale and purchase agreement concerning the Asian Aviation Centre of Excellence (AACE), which is currently a 50:50 CAE-AirAsia joint venture. The transaction of US$100m (including earn-out) will give CAE full control over AACE’s three training centres – located in Sepang, Malaysia; Singapore; and Ho Chi Minh City, Vietnam – as well as its share of the Philippine Academy of Aviation Training (PAAT), a joint-venture training centre between AACE and Cebu Pacific, located in Manila, Philippines. CAE will remain AirAsia Group’s exclusive training partner. The largest low-cost carrier in Asia has extended its existing contract for all training requirements for AirAsia and for that of its affiliates in support of all aircraft types it operates up until 2036.