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CAE, Saab, Collaborate to Advance Training Capabilities For Gripen Fighter Jets

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CAE (CAE.TO) on Friday said it will collaborate with Saab to develop training and simulation capabilities should the Canadian government select Sweden's Gripen fighter aircraft for the country's air force.

Under the proposed partnership, CAE will set up and operate a Canadian-based training system for Gripen pilots and technicians, support advanced pilot training, simulator operations and technical training.

The memorandum of understanding, signed Friday, clears the way for CAE and Saab to collaborate on Gripen-related training, support, and sustainment opportunities in international markets, the statement said.

The Canadian government said late May it was in talks with Saab as the preferred supplier for the GlobalEye Airborne Early Warning and Control (AEWC) capability., while still considering acquiring Gripen fighters.

CAE shares were last seen up C$0.01 to C$34.69 late morning on the Toronto Stock Exchange.

Price: $34.75, Change: $+0.07, Percent Change: +0.20%

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