CAE took in a record $2.3 billion in civil aviation training orders in its Fiscal Year 2018, a 12 percent increase, the company reported on Friday, announcing both fourth-quarter and full-year results. During the quarter, CAE signed contracts for civil aviation training solutions valued at $544.5 million, including long-term training services in Europe and the Americas. The company also won long-term training contracts with business aviation customers, including Elit’Avia and Flexjet.

“In business aviation, we have been doing very well to address the existing market and I’m encouraged by the signs of improvement," said CAE president and CEO Marc Parent. "It is a little bit better than we have seen in the recent past but it’s still nowhere near the level it was prior to the financial crisis of 2008. If we see business aviation coming back in any material way, then that could have quite a significant benefit to operating income growth.”

CAE reported five full-flight simulators were sold during the quarter and 50 full-flight simulators were sold during the year under civil aviation training solutions contracts. “There is definitely more opportunity to add more business jet sims. We will continue to add sims to cater to new airplanes and increased demand in business aviation,” said Parent.

CAE fourth quarter civil revenue was $455.2 million, up 9 percent compared with the same quarter in Fiscal Year 2017. Segment operating income was $95.7 million, up 14 percent compared with the fourth quarter last year. Civil training center utilization was 82 percent during the fourth quarter.