2 days ago
Quebec-Based CAE Misses Revenue Estimate on Weaker Civil Aviation Segment
Canadian flight simulator company CAE Inc. said its civil aviation segment will grow near the lower end of its prior outlook due to slower pilot hiring. The Quebec-based firm also missed its revenue estimates for the quarter, leading the shares to fall the most intraday since February 2024.
The civil aviation business, which trains commercial pilots, is now expected to grow in the mid-single-digit percentage range due to slower new aircraft deliveries and more commercial aircraft being grounded, which prompted airlines to be more cautious with hiring.
