CAE warns conflict in Middle East could continue to batter earnings
CAE Inc. is facing financial challenges due to the ongoing conflict in the Middle East, which has affected its operations and earnings. The company is implementing strategic changes to mitigate these impacts, including relocating some of its flight simulators and cutting its commercial fleet. CEO Matthew Bromberg is optimistic about future growth despite the current difficulties, aiming for significant savings and increased operating income by fiscal 2030.
- ▪CAE Inc. reported a $7-million impact on operating profit due to the Middle East conflict.
- ▪The company is shifting some activities to other locations and cutting 10 percent of its commercial full-flight simulator fleet.
- ▪CEO Matthew Bromberg aims to boost operating income by 30 percent or more by fiscal 2030.
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Open this photo in gallery:Instructor Karina Vasylenko demonstrates the air traffic control simulator at CAE's training facility in Montreal in January, 2025.Ryan Remiorz/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountCAE Inc. CAE-T says the impact of the Middle East war is hitting its bottom line as it sketched out ambitious long-term financial targets under new chief executive Matthew Bromberg. The Montreal-based company, which builds flight simulators and trains military and commercial pilots in the United Arab Emirates and dozens of other countries, said Thursday it is experiencing “month-by-month operational and financial impacts” associated with the conflict between the United States, Israel and Iran.
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