The Competition Commission of Singapore (“CCS”) has cleared the proposed transaction through which CAE International Holdings Limited (“CAE”) and Singapore Airlines Limited (“SIA”) (together “the Parties”) will create a full function joint venture company that will establish, develop and operate a commercial flight training centre in Singapore to offer type-rated, recurrent, and conversion pilot training, for B744, B777, B787 and B737MAX (the “Boeing Aircraft Types”) (the “Proposed JV”). CCS has concluded that the Proposed JV, if carried into effect, will not lead to a substantial lessening of competition in the relevant markets.

The relevant markets affected by the Proposed JV are:

a.    the provision of pilot training services for the Boeing Aircraft Types in the Asia Pacific region;

b.    the supply of training devices (including simulation software) for the Boeing Aircraft Types worldwide.

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