Finance, construct, operate, and maintain a helicopter training facility for the Ministry of Defence
The Medium Support Helicopter Aircrew Training Facilities project is a 40 year concession (with a break option exercisable by the client after 20 years) to finance, construct, operate, and maintain a simulator-based training facility for Royal Air Force (RAF) helicopter pilots. The client is the Ministry of Defence (‘MoD’).
Financial close occurred in October 1997.
Six simulators were installed in a building at RAF Benson in Oxford, and construction by CAE Inc. was completed in August 2000. The project involved capital expenditure of approximately £100 million.
The project receives revenue based on usage by the MoD and third parties, with guaranteed minimum amounts. Ongoing maintenance services are provided by CAE (simulators) and Serco (building).