Singer eventually dropped the suit, however. He would fly as Trippe's personal pilot for 17 years. Furthermore, as government and the military further privatized, FSI won more contracts. Continuing his high reinvestment policy, Ueltschi invested in a marine simulator at LaGuardia Airport to train operators of supertankers, or natural gas carriers. During this time, FSI had virtually monopolized the corporate pilot training market, prompting its main competitor, Singer Company (whose SimuFlite division ran a training center in Dallas, Texas), to sue FSI in 1984 for anticompetitive practices.
FSI branched out into military pilot training and, later, began to challenge commercial airlines for a portion of their pilot training market. In 1984 the company successfully competed for an Air Force contract. The increasing trend toward contracting out of airlines' technical services boded well for FSI's future commercial carrier business as more airlines sought services such as crew training from outside contractors. Its closest competitor, SimuFlite, fell victim to a corporate raider, a casualty of the 1980s. The Link Trainer, a flight simulation machine used by the army in the 1930s and later to train pilots during World War II, was a mechanically controlled flight trainer designed to teach mail-carrying pilots how to "fly blind" on an instrument panel. Furthermore, while most labor union agreements previously kept such services in-house, the airlines successfully applied leverage over new agreements to slash costs by contracting out. Company History: FlightSafety International, Inc. (FSI) is the largest provider of pilot training services to the general aviation, corporate, military, and commercial airline markets. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.FlightSafety International Inc. provides training services. FSI continued to expand, planning a training center at Kunming Airport in southern China. The program had the capacity to link to the Internet. MarineSafety International had grown as well, training crews for 100 different types of vessels in Newport, San Diego, and Rotterdam. Nevertheless, he was able to walk away from the accident. The MarineSafety International and PowerSafety International divisions also expanded. Even the commercial and commuter airlines, which, in large part, trained their own pilots, began to give some of their spillover business to the company.
By the time the official contract competition was under way, FSI easily won the contract. Revenues were about $326 million in 1995. Sensing the opening of a profitable business specializing in flight training, Ueltschi started Flight Safety, Inc. in 1951. In March 1999, FlightSafety Boeing broke ground on a $100 training center in Miami expected to attract 7,000 pilots and 3,000 maintenance a year, many from Latin American airlines. Return on equity was 23.2 percent in 1978, and its stock price nearly doubled that year. It has few major competitors. We see them around but we don't know what goes on behind the scenes. With the company in solid competitive position at the onset of the 1980s, Ueltschi was poised to take further risks. Nevertheless, Ueltschi took some big risks to get the company off the ground. Record earnings in 1989 reflected the boom: revenues were up $168.15 million, and net income grew 29 percent to $46.7 million. Furthermore, pilots returned periodically for refresher courses, thereby creating more revenue and new markets for the company. Essentially, he had to convince aircraft manufacturers that he could do a better job of training pilots for their own aircraft than they could themselves, and for less money. Perceiving that a demand might later exist for updated training services, Ueltschi mortgaged his house for capital. Talk:FlightSafety International. FSI expanded its business worldwide and rapidly increased its share of the commercial airline training business. This success led to other contracts with the airline manufacturers, and by the late 1970s Ueltschi's company had signed similar deals with 12 other plane makers, including Airbus Industrie in France. We look forward to our contributions to aviation safety for generations to come. This high rate of reinvestment strategy was vital to keeping the company afloat in its early years and eventually led to large profits and strong sales growth. It delivered about a dozen full-motion simulators a year, only three of which were for airliners. The company operates simulation centers worldwide and manufactures flight simulators. FSI also signed a contract with Taiwan's China Airlines to develop a cockpit resources management training system. Boeing also had considered buying FSI, as the aircraft manufacturer had long provided introductory training for its customers. The commercial airlines also seemed to realized the cost-cutting potential of specialization by tapping FSI to conduct flight crew training. FSI got in on the ground floor of an emerging airline industry in the 1940s and 1950s. Working out of a St. Louis-based training center, FSI began its Advanced Flight Crew Training Program.