Canada's CAE profit plunges on lower flight simulator sales [Reuters]
CAE Inc. Ordinary Shares (CAE)
Last cae inc. ordinary shares earnings: 2/7 08:23 am
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Source: Reuters
Canada's CAE profit plunges on lower flight simulator sales May 22 (Reuters) - Civil aviation training company CAE Inc on Friday reported a 35.8% fall in quarterly profit, hurt by a slump in training revenue in March due to the COVID-19 pandemic, and the Canadian company warned of a significant impact in the short term. The COVID-19 crisis has roiled the global travel sector, with air travel demand in U.S. alone down by about 95% as state-wide lockdown measures led to a rise in ticket cancellations and decline in traffic. “In March, approximately one-third of Civil training locations worldwide suspended operations, and several of those remaining open, operated at significantly reduced capacity,” the company said. Montreal-based CAE, the world’s largest civil aviation training company, said revenue in its civil aviation unit grew just 1.4% in the fourth quarter ended March 31. Net income attributable to shareholders fell to C$78.4 million ($55.9 million), or 29 Canadian cents per share
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CAE
News
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- Market movers: Stocks seeing action on Tuesday - and why [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- NAV CANADA and CAE form partnership to train Air Traffic Controllers and Flight Service Specialists [Yahoo! Finance]Yahoo! Finance
CAE
Earnings
- 2/14/24 - Beat
CAE
Sec Filings
- 2/14/24 - Form 6-K
- 2/13/24 - Form SC
- 2/13/24 - Form SC
- CAE's page on the SEC website