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By Murdo Morrison2021-03-01T15:01:00+00:00
CAE has made its largest acquisition to date and its fourth in almost as many months, after agreeing to buy L3Harris’s US military training arm for $1.05 billion.
Source: US Air Force
US Air Force crew train in a CAE-run Lockheed Martin C-130H simulator
The deal – which is expected to close in the second half of this year – will make the Canadian firm the largest non-OEM training provider to the US military, with a position on key programmes such as the US Air Force’s Lockheed Martin F-16 and Northrop Grumman B-2, and the US Navy and US Marine Corps Boeing F/A-18.
By Jon Hemmerdinger2021-02-12T23:07:00+00:00
Canadian pilot training company CAE’s civil aerospace business turned a C$48 million ($38 million) operating profit in the third quarter of the company’s 2021 fiscal year despite the pandemic driving revenue down by more than half.
Despite the ongoing downturn, CAE chief executive Marc Parent remains bullish about the company’s long-term prospects, predicting CAE will “emerge from this period with even greater strength”.
Source: CAE
CAE flight simulators
The civil division’s operating profit in the three-month period ending in December 2020 is down 61% year-on-year. CAE’s revenue declined by 26% year-on-year in the period to C$412 million.