Exchange Income Corp.'s PAL Aerospace subsidiary landed a roughly 750 million Canadian dollars ($533 million) contract from the provider of Royal Canadian Air Force future aircrew training, SkyAlyne, to provide aircraft modifications, training and support.

SkyAlyne, a joint venture between CAE and KF Aerospace, in May 2024 received a contract from the Canadian government for the future aircrew training program, an effort to modernize and enhance both pilot and aircrew training.

PAL Aerospace has agreed to provide all aircraft modifications for the Royal Canadian Air Force CT-142Q Citadel, the aircraft that will serve as the platform for training airborne electronic sensor operators and air combat systems officers.

Exchange Income said its subsidiary also will deliver Wings Standard training to all the officers and operators in the program through the life of the contract, and provide in-service support for the operation of the fleet.

Exchange Income said PAL Aerospace will work with SkyAlyne to shift focus toward the delivery of initial operating capabilities, helping ensure a smooth transition from existing programming.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

July 15, 2026 08:19 ET (12:19 GMT)

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