Canada-based aviation training provider CAE has completed the $100m acquisition of Malaysian airline AirAsia’s interest in Asian Aviation Centre of Excellence (AACE), which comprises earn-out.
The development is a result of a sale and purchase agreement announced in August, as well as the approval of all the necessary conditions and regulatory requirements.
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It will enable CAE to expand its presence in the Asia-Pacific aviation market.
The company has retained all 150 employees working at three AACE training centres in Kuala Lumpur, Malaysia; Singapore; and Ho Chi Minh City, Vietnam.
CAE president and CEO Marc Parent said: “As we conclude the transaction and launch a new phase in our relationship, I would like to once again thank AirAsia for their confidence in CAE.
“We are pleased to welcome the AACE team to CAE. Together, we will continue to build on the world-class training experience that our customers have come to expect.”
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By GlobalDataAACE was established as a joint venture between CAE and AirAsia, following the expansion of a type rating training organisation (TRTO) partnership between the companies in 2010.
The centre provides training for pilots, cabin crew, maintenance engineers and technicians, as well as ground services personnel for airlines across the Association of South-East Asian Nations (ASEAN) region.
It also offers comprehensive training of all AirAsia’s pilots, cabin crew and maintenance and ground services personnel.
Last June, AACE launched its new A330 CAE 7000XR Series full-flight simulator (FFS) at its centre in Glenmarie, Selangor, Malaysia, bringing its total number of full-flight simulators at all AACE centres to 12.
