Ottawa investing $250M in flight simulator maker CAE
The interior of CAE's Phenom 100 flight simulator is shown in this company handout photo. (THE CANADIAN PRESS/HO, CAE)
The Canadian Press
Published Thursday, February 27, 2014 9:56AM EST
MONTREAL -- Flight simulator company CAE has received a $250 million repayable investment from Ottawa.
The goal of the five-year program is to help Montreal-based CAE develop its next generation of simulation platforms.
CAE flight simulators are used around the world to train airline and military pilots and cockpit crews.
The company (TSX:CAE) also provides other training equipment and services for the civil aviation and defence markets.
The federal contribution was announced by Denis Lebel, the minister responsible for economic development in Quebec.