Iran war hammers CAE’s bottom line, with training centre shutdowns on the horizon - BNN Bloomberg
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Heuristic (v1/v3)
0.00 · CENTER
ML v2 (DistilBERT)
0.327 · RIGHT
Ensemble
0.164 · CENTER
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Article Excerpt
The head of CAE Inc. says the Iran war is poised to continue hammering its bottom line, as the flight simulator maker scales back its footprint abroad to cut costs.
The turmoil in the Persian Gulf is “having a month-by-month impact” on bookings and sales, said CEO Matthew Bromberg, with airlines slashing flight schedules and dialing back pilot training in a conflict zone.
“The training market remains subdued, and recent developments in the Middle East are expected to continue to impact our operations and customers,” he told analysts on a conference call Friday.
Soaring jet fuel costs caused…
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