MONTREAL — Bombardier Inc. (TSX:BBD.B) has signed a deal to sell its military aviation training business for C$19.8 million to CAE Inc. (TSX:CAE).
The agreement will see CAE take over as prime contractor for the NATO Flying Training in Canada program that Bombardier has been operating at Canadian Forces Base Moose Jaw in Saskatchewan and CFB Cold Lake in Alberta.
CAE says the deal will improve its core capabilities and provides an opportunity for growth.
Best known for its commercial and military simulators, CAE also offers civil aviation, military and helicopter training services around the world.
Bombardier and CAE expect the deal to close this year.
