SkyAlyne and EIC Subsidiary, PAL Aerospace, Reach Agreement for Training, Missionization and Sustainment for the RCAF CT-142Q Citadel
$750 Million Contract Will See PAL Aerospace Deliver Modification, Support and Training Services for the RCAF’s Future Aircrew Training Program
Exchange Income Corporation (“EIC” or the “Corporation”) (TSX: EIF), is pleased to announce that its subsidiary, PAL Aerospace, an established Canadian full-service aerospace solutions provider, and SkyAlyne, the provider of the Royal Canadian Air Force Future Aircrew Training (FAcT) program, have jointly achieved an agreement to enter into a contract for approximately $750 Million (CAD) for the provision of modification, in-service support and training services to the program. It is anticipated the contract will be finalized over the next several months.
The Government of Canada officially awarded the FAcT contract to SkyAlyne, a joint venture between CAE and KF Aerospace, in late May 2024. This significant 25-year initiative is currently in a multi-year transition period to become the sole ab-initio aircrew training program for the RCAF. FAcT modernizes and enhances both Pilot and aircrew training, ensuring the next generation of RCAF aviators are prepared for the challenges ahead.
