Moroccan Air Force Training Deal Worth $5 Million for CubicSunday, April 13, 2014
Cubic Corp. said on April 11 that it received a contract worth more than $5 million to supply an aircraft training system to the Moroccan air force.
The P5 Combat Training System will help teach Moroccan pilots to fly their recently delivered Lockheed Martin Corp. (NYSE: LMT) F-16 aircraft. The system offers “Top Gun”-style live and post-mission training.
San Diego-based Cubic (NYSE: CUB) produces the training system in conjunction with DRS Technologies Inc., a subsidiary of Finmeccanica SpA.
The U.S. Air Force is an intermediary in the sale.
Shares of Cubic closed April 11 at $48.30, down 1.6 percent.