Low Cost & Regional

CAE reports third quarter fiscal 2020 results


Aviation training specialist CAE has announced figures for the third quarter of fiscal 2020, including its Civil Aviation Training Solutions (Civil) sector.

Third-quarter Civil revenue was $558.1 million, up 22 per cent compared to the same quarter last year. Segment operating income was $123.0 million (22.0 per cent of revenue) compared to $87.2 million (19.0 per cent of revenue) in the third quarter last year.

The third-quarter segment operating income before specific items was $123.4 million (22.1 per cent of revenue), up 42 per cent compared to the third quarter last year. During the quarter, Civil delivered 12 full-flight simulators (FFSs)

During the quarter, it also signed training solutions contracts valued at $706.2 million, including a long-term pilot training agreement with JetSmart Airlines, and 17 FFSs, for 37 sales in the first nine months of the year.

Since the beginning of January, Civil received orders for seven FFSs, including six for the Boeing B737MAX aircraft, bringing total current year-to-date FFS sales to 44.

To address the growing global demand for new pilots, during the quarter, Civil launched new Multi-Crew Pilot License programmes with EasyJet and Volotea and a new cadet pilot training programme with Jazz Aviation and Seneca School of Aviation called Jazz Approach.

In business aviation, it signed several business aviation pilot training contracts with business jet operators including JetSuite, Solairus Aviation, and TAG Aviation Holdings.

The Civil book-to-sales ratio was 1.27x for the quarter and 1.44x for the last 12 months. The Civil backlog at the end of the quarter was a record $5.3 billion.

Looking ahead, the company expects to continue building on its positive momentum in training, increasing market share and securing new customer partnerships with its innovative training solutions.

Civil expects operating income growth closer to 30 percent based on year-to-date performance and a further increase in demand for its training solutions.

Visit cae.com/civil-aviation for more information.

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