MONTREAL – 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 achieve millions of dollars in savings.
CEO Matthew Bromberg says the turmoil in the Persian Gulf is “having a month-by-month impact” on bookings and sales as airlines slash flight schedules and dial back training in a conflict zone.
The upheaval comes as CAE enters what Bromberg calls a “reset year,” with the company six months into a transformation plan that will see it remove 10 per cent of its commercial flight simulators to cut costs.
He says another dozen or so will be relocated, and four to six training centres will also be shut down.
The Montreal-based company’s share price fell 10 per cent shortly after markets opened Friday.
Late Thursday afternoon, CAE reported that fourth-quarter profits plunged 46 per cent year-over-year to $73.1 million, even as revenues ticked up four per cent to $1.33 billion.
This report by The Canadian Press was first published May 22, 2026.
Companies in this story: (TSX:CAE)
