The Asian Aviation Centre of Excellence (AACE), a 50:50 CAE-AirAsia joint venture since it was set up in 2004, will now be fully controlled by CAE, following the recent signing of a sale and purchase agreement between the companies. CAE is a global leader in civil aviation training, serving over three thousand airlines, aircraft operators and manufacturers worldwide.
As a result of the sale, CAE fully takes over AACE’s three training centres – located in Sepang, Malaysia; Singapore; and Ho Chi Minh City, Vietnam. The deal also includes its share of the Philippine Academy of Aviation Training (PAAT), a joint-venture training centre between AACE and Cebu Pacific in Manila, Philippines.
Asian Aviation Centre of Excellence offers training for pilots, cabin crew, maintenance engineers, technicians and ground services personnel on the Airbus A320, A330 and Boeing B737NG platforms.
…. This new agreement is a natural evolution of our relationship and a win-win for both organisations. It allows AirAsia to concentrate on its core business by completely outsourcing its training needs to CAE, and it allows CAE to expand its footprint in Asia Pacific, the fastest-growing aviation market.We are very proud of what we have accomplished with AirAsia in creating AACE. Marc Parent, CAE President and Chief Executive Officer
Asian Aviation Centre of Excellence – the future
CAE will remain AirAsia Group’s exclusive training partner for all training requirements for the Group and affiliates, until 2036. the contract also covers support of all AirAsia operated aircraft types.
Tony Fernandes, Group Chief Executive Officer of AirAsia commented that the partnership has been very successful, with their first MPL cadets trained by CAE now flying as captains.
He went on to add:
…. AirAsia is rich in assets but our core business is passenger service and ancillary, and we will continue to regularly dispose of non-core investments and dividend most of it out, subject to board approval. This stake sale is just part of our long-term plan to monetise all our assets. We are also working on several other divestments of valuable assets including our leasing arm, which is imminent. Tony Fernandes
For more information, check out airasia.com.