Tag: CAE

CAE reports third quarter fiscal 2020 results

CAE Inc Press Release

  • Revenue of $923.5 million up 13% vs. $816.3 million in prior year
  • Segment operating income(1) of $154.9 million ($155.3 million before specific items(2)) up 37% vs. $113.0 million in prior year
  • EPS of $0.37 vs. $0.29 in prior year
  • Free cash flow(3) of $275.3 million up from $155.1 million in prior year
  • Order intake(4) of $1,106.6 million for 1.20x book-to-sales(4) and $9.4 billion backlog(4)
  • Company pledged to become carbon neutral by summer 2020

Montreal, Canada, February 7, 2020

CAE today reported revenue of $923.5 million for the third quarter of fiscal 2020, compared with $816.3 million in the third quarter last year. Third quarter net income attributable to equity holders was $97.7 million ($0.37 per share) compared to $77.6 million ($0.29 per share) last year. Net income before specific items(5) in the third quarter of fiscal 2020 was $98.0 million ($0.37 per share before specific items(6)).

Third quarter segment operating income was $154.9 million (16.8% of revenue) compared with $113.0 million (13.8% of revenue) in the third quarter of last year. Segment operating income before specific items in the third quarter of fiscal 2020 was $155.3 million (16.8% of revenue). All financial information is in Canadian dollars unless otherwise indicated.

“CAE had strong growth in the third quarter, with 13 percent higher revenue and 37 percent higher operating income, and we generated over $275 million of free cash flow. Customers continued to put their trust in CAE as their training partner of choice, awarding us $1.1 billion of orders for a $9.4 billion backlog,” said Marc Parent, CAE’s President and Chief Executive Officer. “Our performance was led by Civil with 42 percent operating income growth and continued good momentum with our innovative and comprehensive training solutions. In Defence, we had 32 percent operating income growth and we secured orders in excess of revenue by 1.11 times. Todd Probert recently joined CAE as its new Group President, Defence & Security and I am very pleased to welcome a leader of his calibre to our executive team. In Healthcare, we had double-digit revenue growth and we continued to bring highly innovative solutions to market to help make healthcare safer. As we look to the remainder of the fiscal year, our positive annual growth outlook for the Company remains unchanged.”Summary of consolidated results

(amounts in millions, except operating margins and per share amounts) Q3-2020 Q3-2019Variance %
Revenue$923.5$816.313%
Segment operating income (SOI)$154.9$113.037%
Operating margins%16.8%13.8 
SOI before specific items$155.3$113.037%
Operating margins before specific items%16.8%13.8 
Net income$99.8$79.526%
Net income attributable to equity holders of the Company$97.7$77.626%
Earnings per share (EPS)$0.37$0.2928%
Net income before specific items$98.0$77.626%
EPS before specific items$0.37$0.2928%
Order intake$1,106.6$882.125%
Total backlog$9,434.3$8,964.65%

Civil Aviation Training Solutions (Civil)

Third quarter Civil revenue was $558.1 million, up 22% compared to the same quarter last year. Segment operating income was $123.0 million (22.0% of revenue) compared to $87.2 million (19.0% of revenue) in the third quarter last year. Third quarter segment operating income before specific items was $123.4 million (22.1% of revenue), up 42% compared to the third quarter last year. During the quarter, Civil delivered 12 full-flight simulators (FFSs)(7) to customers and third quarter Civil training centre utilization(8) was 70%.

During the quarter, Civil 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 programs with easyJet and Volotea and a new cadet pilot training program with Jazz Aviation and Seneca School of Aviation called Jazz Approach. In business aviation, Civil 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.Summary of Civil Aviation Training Solutions results

(amounts in millions, except operating margins, SEU, FFSs deployed and FFS deliveries) Q3-2020 Q3-2019Variance %
Revenue$558.1$458.422%
Segment operating income$123.0$87.241%
Operating margins%22.0%19.0 
SOI before specific items$123.4$87.242%
Operating margins before specific items%22.1%19.0 
Order intake$706.2$586.620%
Total backlog$5,263.0$4,566.115%
Simulator equivalent unit (SEU)(9) 252 21915%
FFSs deployed(7) 303 26614%
FFS deliveries 12 16(25%)

Defence and Security (Defence)

Third quarter Defence revenue was $332.4 million, up 1% compared to the same quarter last year and segment operating income was $31.3 million (9.4% of revenue). Before reorganizational costs incurred this quarter, Defence segment operating income for the quarter would have been $33.2 million (10.0% of revenue), up 32% compared to the third quarter last year.

During the quarter, Defence booked orders for $367.4 million, including contracts to provide the German Navy with a comprehensive training solution for the NH90 Sea Lion helicopter and to upgrade and modify the German Army’s NH90 full-mission simulators. Other notable contracts include the next increment of a multi-year contract with the U.S. Air Force to provide comprehensive C-130H aircrew training services. Defence also received orders to continue providing long-term maintenance and support services for Rotorsim, a joint venture between CAE and Leonardo, and a contract for Abrams M1A2 tank maintenance trainers for the U.S. Army.

The Defence book-to-sales ratio was 1.11x for the quarter and 0.88x for the last 12 months (excluding contract options). The Defence backlog, including options and CAE’s interest in joint ventures, at the end of the quarter was $4.2 billion. The Defence pipeline remains strong with approximately $3.8 billion of bids and proposals pending customer decisions.

On January 20, 2020, CAE announced the appointment of Todd Probert as Group President, Defence & Security, effective January 27, 2020. He is based in Washington, DC and succeeds Gene Colabatistto, who retired from CAE in December 2019.Summary of Defence and Security results

(amounts in millions, except operating margins) Q3-2020 Q3-2019Variance %
Revenue$332.4$330.21%
Segment operating income$31.3$25.224%
Operating margins%9.4%7.6 
Order intake$367.4$267.837%
Total backlog$4,171.3$4,398.5(5%)

Healthcare

Third quarter Healthcare revenue was $33.0 million, up 19% compared to $27.7 million in the same quarter last year, and third quarter segment operating income was $0.6 million, stable compared to $0.6 million in the third quarter last year.

Healthcare, together with the American Society of Anesthesiologists, launched a new Anesthesia SimSTAT module, the final module in a series of interactive screen-based modules approved for Maintenance of Certification in Anesthesiology credits. As well, during the quarter, Healthcare developed custom training solutions for Edwards Lifesciences to enhance physician training, and it delivered a custom cardiovascular simulation application to Cardinal Health (Cordis). Healthcare was also awarded an EMS World Innovation Award for CAE AresAR, the Microsoft HoloLens application for our emergency care manikin that includes six augmented reality scenarios.Summary of Healthcare results

(amounts in millions, except operating margins) Q3-2020 Q3-2019Variance %
Revenue$33.0$27.719%
Segment operating income$0.6$0.6—%
Operating margins%1.8%2.2 

Additional financial highlights

Free cash flow was $275.3 million for the quarter compared to $155.1 million in the third quarter last year. The increase in free cash flow results mainly from a lower investment in non-cash working capital and higher cash provided by operating activities. CAE usually sees a higher level of investment in non-cash working capital accounts during the first half of the fiscal year and it expects to see a significant portion of these investments reverse in the second half.

Income taxes this quarter were $18.4 million, representing an effective tax rate of 16%, compared to 15% for the third quarter last year. The tax rate was higher due to the impacts of tax audits in Canada last year, partially offset by a change in the mix of income from various jurisdictions.

Net finance expense this quarter was $36.7 million, $17.4 million higher than the third quarter of fiscal 2019, mainly from higher interest on long-term debt due to the issuance of unsecured senior notes since the fourth quarter of fiscal 2019 and higher interest on lease liabilities because of the adoption of IFRS 16.

Growth and maintenance capital expenditures(10) totaled $51.6 million this quarter.

Net debt(11) at the end of the quarter was $2,306.6 million for a net debt-to-capital ratio(12) of 48.5%. This compares to net debt of $2,442.8 million and a net debt-to-capital ratio of 51.0% at the end of the preceding quarter. Excluding the impacts of the adoption of IFRS 16, net debt would have been $2,021.2 million this quarter for a net debt-to-capital ratio of 44.9%.

Return on capital employed (ROCE)(13) was 11.4% this quarter compared to 11.7% in the third quarter last year, before specific items. Excluding the impacts of the adoption of IFRS 16, ROCE before specific items would have been 11.6% this quarter.

CAE will pay a dividend of 11 cents per share effective March 31, 2020 to shareholders of record at the close of business on March 13, 2020.

During the three months ended December 31, 2019, CAE repurchased and cancelled a total of 386,700 common shares under the Normal Course Issuer Bid (NCIB), at a weighted average price of $32.69 per common share, for a total consideration of $12.6 million. On February 7, 2020, CAE received approval from its Board of Directors for the renewal of its NCIB to purchase up to 5,321,474 of its issued and outstanding common shares (approximately 2% of its outstanding shares) during the period from February 25, 2020 to no later than February 24, 2021.Management outlook for fiscal year 2020

Management’s outlook for CAE in fiscal year 2020, as updated November 13, 2019, is unchanged. In Civil, 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, including maintaining its leading share of FFS sales, and the successful integration of its recently acquired Bombardier BAT business, which is substantially complete. In Defence, the Company expects modest operating income growth for the year, reflecting the Defence group’s performance year-to-date, expected performance on programs in backlog, and the expected timing of new contract awards from a large pipeline. CAE continues to expect Healthcare to achieve double-digit growth for the year. Funding growth opportunities remains CAE’s top capital allocation priority and continues to be driven by and supportive of growing customer training outsourcings in its large core markets. The Company prioritizes market-led capital investments that offer sustainable and profitable growth and accretive returns and support its strategy to be the recognized worldwide training partner of choice. CAE continues to expect total annual capital expenditures to be approximately 10 to 15 percent higher, in fiscal 2020, primarily to keep pace with growing demand for training services from its existing customers and to secure new long-term customer contracts. Management’s expectations are based on the prevailing positive market conditions and customer receptivity to CAE’s training solutions as well as material assumptions contained in this press release, quarterly MD&A and in CAE’s fiscal year 2019 MD&A.Corporate Social Responsibility

CAE creates significant value for customers, shareholders, and its employees. CAE products and services contribute to improvements in aviation safety, ensure defence forces are mission-ready, and help make healthcare safer-a noble purpose that is a source of pride for CAE’s more than 10,000 employees worldwide. As the largest civil aviation training company in the world, and the only pure‑play aviation training company, it has an unwavering customer focus and commitment to innovation. Furthermore, CAE is committed to doing its share in the fight against climate change for the well-being of future generations. In November 2019, CAE announced its plan to become carbon neutral in summer 2020. This goal will be achieved by offsetting carbon emissions from the fuel used for all the live training flights of its academies, from energy consumption in its locations worldwide and from the business travel by air of all its employees. CAE will also work with the industry to progressively use electric aircraft for the live flight training in our academies. CAE will continue to invest to make its full-flight simulators more energy efficient, therefore allowing its customers worldwide to reduce their own footprint.

In support of CAE’s local community of Greater Montreal, the Company raised more than one million dollars in its 2019 CAE-Centraide (United Way) fundraising campaign. This record amount was collected through employee donations and a corporate donation. Since 2000, CAE and its employees have donated $12.6 million to Centraide of Greater Montreal. In addition to Centraide, CAE supports the communities in which it operates around the world through donations and sponsorships that mainly support causes in education, civil aviation, defence, security and healthcare.

To learn more about CAE’s corporate sustainability roadmap and achievements, refer to CAE’s FY19 Annual Activity and Corporate Social Responsibility Report.IFRS 16 – Leases

Effective April 1, 2019, CAE adopted IFRS 16 – Leases, which introduces a single lessee accounting model and eliminates the classification of leases as either operating or finance leases. The main impact of IFRS 16 to CAE is the recognition of a right-of-use asset and a lease liability for substantially all leases. This change results in a decrease of our operating lease expense and an increase of our finance and depreciation expenses. The financial results reported in the press release for the fiscal year ended March 31, 2019 do not reflect the accounting changes required by IFRS 16 as the Company adopted the standard using the modified retrospective application as of April 1, 2019. For more detailed information, including the expected impacts of the transition to IFRS 16, refer to Note 2 of the interim consolidated financial statements for the quarter ended December 31, 2019.Detailed information

Readers are strongly advised to view a more detailed discussion of our results by segment in the Management’s Discussion and Analysis (MD&A) and CAE’s consolidated financial statements which are posted on our website at www.cae.com/investors.

UPDATE 1-Commercial pilot training unit drives profit beat at Canada's CAE

News provided by Reuters – link to full story

MONTREAL, Feb 7 (Reuters) – Canada’s CAE Inc, the world’s largest civil aviation training company, on Friday reported a better-than-expected profit, driven by strength in its commercial pilot training and simulators business.

CAE is inking deals to train pilots for airlines like easyjet Plc, as air traffic rises.

Both CAE and U.S.-based Textron Inc’s TRU training division are also seeing an increase in demand for flight simulators after Boeing earlier this year recommended that airline pilots retrain before flying the grounded 737 MAX plane, which is being fixed by the planemaker for a software problem.

Revenue in CAE’s civil aviation training business jumped about 22% to C$558.1 million in the third quarter ended Dec. 31.

CAE reaffirmed its full-year outlook for 30% growth in operating income in the civil aviation training business.

Montreal-based CAE said net income attributable to shareholders rose 26% to C$97.7 million ($73.4 million), or 37 Canadian cents per share, in the quarter.

CAE appoints Todd Probert as Group President, Defence & Security

Provided by CAE Inc/Globe Newswire

MONTREAL and WASHINGTON, Jan. 20, 2020 /CNW Telbec/ – (NYSE: CAE) (TSX: CAE) – CAE is pleased to announce the appointment of Todd Probert as Group President, Defence & Security, effective January 27, 2020. He will be based in Washington, DC and is succeeding Gene Colabatistto, who retired from CAE in December 2019.

Todd Probert appointed Group President, CAE Defence and Security (CNW Group/CAE INC.)
Todd Probert appointed Group President, CAE Defence and Security (CNW Group/CAE INC.)

“I am very pleased to welcome Todd Probert to CAE’s executive management team, as our new Group President, Defence & Security. He is a proven strategic business leader with the right balance of technical, business and international experience in defence and technology,” said Marc Parent, CAE’s President and Chief Executive Officer. “Todd’s competencies and background are very well aligned with CAE’s emphasis on digital innovation and our long-term vision to be the training partner of choice. His ability to drive business growth and create strategic partnerships will bring significant value to our company and our defence customers.”

Mr. Probert worked for Raytheon, the world’s fourth largest defence company, over the past 10 years. Most recently, he was leading the Command, Control, Space & Intelligence business unit as part of Raytheon’s Intelligence, Information and Services segment. In this role, he spearheaded Raytheon’s use of commercial software development practices and artificial intelligence for military and intelligence community customers in addition to establishing strategic relationships with Silicon Valley companies. He previously served as the Vice President of Raytheon’s Mission Support & Modernization product line where he steadily grew the business during his tenure. He has formed innovative partnerships with leading tech companies to transform the development timelines and delivery of capabilities to the U.S. Department of Defense in areas such as fully open architectures, artificial intelligence and cyber security. He also held the position of Vice President, Engineering and Technology, where he managed the engineering workforce for Raytheon’s Intelligence, Information and Services portfolio.

Before joining Raytheon, Mr. Probert worked for Honeywell Technology Solutions, Inc. (HTSI) in various functions such as strategy and business development, planning and operations, merger and acquisition activities, and he also served as HTSI’s Chief Technology Officer. Prior to that, he worked for ANSER, where he led the Space Technology division.

In 2019, Mr. Probert was named by WashingtonExec as one of the Top 10 Department of Defense (DOD) Executives to Watch based on business accomplishments, impact on the defence community and vision for the future. He also received the 2019 Aviation Week Program Excellence Award in the OEM Sustainment category. 

Mr. Probert holds a master’s degree in aeronautical and astronautical engineering from Purdue University, where he was named Outstanding Aerospace Engineer of the Year in 2017. He has a bachelor’s degree in aerospace engineering from the University of Michigan. 

CAE open to building 737 Max simulators faster to help airlines

News provided by the Montreal Gazette – link to full story

Montreal-based manufacturer says it’s ready to speed up output once the beleaguered jet is cleared to fly again.

Montreal’s CAE Inc. stands ready to speed up production of Boeing Co. 737 Max flight simulators once the beleaguered jet is cleared to fly again — whenever that happens.

Boeing on Tuesday recommended airline pilots go through simulator training before they resume operating the 737 Max — a departure from its long-held position that pilots would only require computer-based training. The U.S. planemaker has spent the past few months preparing software fixes to secure regulatory approval for the jets to fly commercially again.

The 737 Max has been grounded since March following two fatal crashes in Indonesia and Ethiopia. Air Canada and WestJet Airlines, the two biggest Canadian carriers, both flew the plane until the grounding.

Long a manufacturer of full-flight simulators, CAE also runs the world’s largest training network for civil aviation pilots, with about 300 devices deployed at company-run facilities in cities such as Abu Dhabi, Kuala Lumpur and London. CAE says its 2,000 instructors train more than 135,000 pilots every year.

“We think we have a role to play to help solve the situation,” Hélène Gagnon, a CAE spokeswoman, told the Montreal Gazette in a telephone interview. “We can increase our production capacity. We can go faster. We have the people and we have the space. It’s easier for us to boost output than it would be for a smaller player.”

While welcoming Boeing’s revised stance, which will present CAE with a “clear market opportunity,” Gagnon noted it will be up to regulatory authorities such as Transport Canada and the Federal Aviation Administration of the U.S. to outline training rules for 737 Max pilots. No such decision has yet been taken.

Only 34 certified Max flight simulators currently exist globally, the New York Times and the Seattle Times reported Tuesday.

CAE currently needs about a year to build a 737 Max simulator, Gagnon said. She couldn’t immediately say how much time could be saved by speeding up output, or how many workers CAE would need to hire.

All of CAE’s simulator manufacturing takes place in Montreal. The company says it controls about 80 per cent of the global market for the devices.

CAE is currently building 25 of its 737 Max simulators for various airlines, having already delivered 23 units as of last month. It also has two 737 Max devices installed at company training centres in Toronto and Dallas. Carriers that have bought CAE simulators for the 737 Max include Air Canada and Southwest Airlines of the U.S.

Gagnon declined to say how much time CAE will need to build the remaining 737 Max simulators it has on order.

CAE said in November it had started making extra 737 Max simulators in anticipation of future demand. It wouldn’t say how many of those so-called “white tail” devices — which aren’t attributed to any airline customer — are being built.

Once Boeing’s software fixes have been approved, all 737 Max simulators — including CAE’s — will still need to be re-certified by Transport Canada and other civil aviation authorities.

Reuters contributed to this report.

CAE wins contract to provide German Navy with comprehensive NH90 Sea Lion training solution

CAE Inc Press Release

Stolberg, Germany, December 19, 2019

Peter Dohmen (left), General Manager of the NATO Support and Procurement Agency, and Niels Kröning (right), General Manager, CAE Elektronik GmbH, celebrate the signing of the German Navy NH90 Sea Lion training contract awarded to CAE.

CAE today announced that CAE Elektronik GmbH has signed a contract with the NATO Support and Procurement Agency (NSPA) to provide the German Navy with a comprehensive training solution for the NH90 Sea Lion helicopter.

The German Navy is procuring a fleet of 18 NH90 Sea Lion helicopters to support search and rescue (SAR) operations and replace the venerable Sea King MK41 helicopter, which has been in operation for over 40 years for the German Navy.  The German Navy NH90 Sea Lion training solution will be based near German Naval Airbase Nordholz, which is the home of the German Naval Air Command.

“CAE has a long history supporting German naval aviation training at Nordholz on platforms such as the Sea King and Lynx helicopters as well as P-3C Orion maritime patrol aircraft,” said Niels Kröning, General Manager, CAE Elektronik GmbH. “We are honoured to be selected to continue this longstanding cooperation with the development of a world-class training solution for the NH90 Sea Lion helicopter.”

Under terms of the contract, CAE will design and manufacture a suite of NH90 Sea Lion training devices for the German Navy, including:

  • NH90 full-mission simulator capable of compliance to the European Aviation Safety Agency (EASA) Level D qualification, the highest for flight simulators;
  • NH90 cockpit procedures trainer;
  • NH90 operational tactics trainer for training rear-crew tactical coordinators (TACCO) and sensor operators, and capable of networking with the full-mission simulator to provide full-crew mission training;
  • NH90 winch and hoist operator trainer, which will also be capable of networking to other NH90 training devices for full-crew training.

In addition, CAE will construct an interim training facility just outside the main entrance to German Naval Airbase Nordholz and will provide on-site training support and maintenance services upon delivery.  The new NH90 Sea Lion training system is expected to be operational by the second half of 2022.

“This contract award for the German Navy NH90 Sea Lion further extends CAE’s industry-leading position providing comprehensive training solutions for the enduring NH90 helicopter platform,” said Marc-Olivier Sabourin, Vice President and General Manager, Defence & Security International, CAE.  “The German Navy will now join the German Army and other countries including Australia, the Netherlands, Qatar, New Zealand and others in partnering with CAE to provide the training systems and support required to prepare their NH90 aircrews.”

The NH90 full-mission simulator for the German Navy will feature a range of CAE’s core simulation technologies. These technologies include: six degree-of-freedom (DOF) electric motion system; high-performance vibration platform to replicate vibration cues critical to helicopter pilots; and a high-fidelity CAE Medallion-6000 image generator. The NH90 training devices will also feature the Open Geospatial Consortium Common Database (OGC CDB) architecture, an international standard for the creation of synthetic environment databases that has been adopted on a range of German Armed Forces training systems.

CAE and Emirates extend partnership on Boeing 777X training suites

CAE Inc Press Release

  • Emirates orders two CAE 7000XR Series full-flight simulators with options for up to four additional training suites  
     
  • CAE has won 4 out of 5 airline training programs for the new Boeing 777X aircraft.

Dubai, United Arab Emirates, December 5, 2019 (NYSE: CAE; TSX: CAE) – CAE and Emirates announced today, following the 2019 Dubai Airshow, the sale of two Boeing 777X full-flight simulators and associated training suites of the CAE XR Series models. The carrier also has options for four additional training suites. 

With orders of 126 Boeing 777X aircraft, Emirates is the biggest customer of the new upgraded 777 aircraft.  

“CAE is honored to support Emirates’ pilot training program as the airline readies for the entry-into-service of its new Boeing 777X fleet,’’ said Nick Leontidis, CAE’s Group President, Civil Aviation Training Solutions. “We have been partners with Emirates for more than 25 years, and this latest program selection serves as a testament to the value CAE brings to its key airline partners.’’

Adel Al Redha, Chief Operating Officer for Emirates Airline said: “As we begin plans to integrate the Boeing 777X into our fleet over the course of the next two years, we are pleased to once again work with our longstanding partner CAE to provide our flight deck crew with best-in-class training technology, We want to ensure our flight deck crew are prepared to operate the B777X variants as they enter operation, and combined with CAE’s track record of execution and innovation, I am confident we will benefit from the best training equipment available.’’

CAE has won 4 out of 5 airline training programs for the new Boeing 777X aircraft. Emirates’ first brand-new Boeing 777X FFS will be delivered by the beginning of 2021. CAE announced in 2017, the sale of the world’s first airline-operated Boeing 777X FFS to Lufthansa Aviation Training. In 2018, CAE sold three Boeing 777X FFSs to Qatar Airways and most recently CAE sold a Boeing 777X FFS to an undisclosed Asian airline.

CAE announces its plan to become carbon neutral in Summer 2020

Provided by CAE Inc/CNW

MONTREAL, Nov. 28, 2019 /CNW Telbec/ – (NYSE: CAE) (TSX: CAE) – CAE today announced at the Montreal Council on Foreign Relations (CORIM) that it will become carbon neutral by the summer of 2020. The company will achieve this goal by offsetting carbon emissions from the fuel used for all the live training flights of its academies, from energy consumption in its locations worldwide and from the air business travel of all its employees.

“I am happy to make the commitment that CAE will become carbon neutral by next summer,” said Marc Parent, President and Chief Executive Officer at CAE. “We want to do our share in the fight against climate change for the wellbeing of future generations. In addition to preventing hundreds of thousands of tons of CO2 being emitted each year by training more than 135,000 pilots in simulators, we will offset our live training fuel emissions, business air travel and energy other than electricity by funding greenhouse gas reduction projects. We will also compensate for our electricity consumption by buying renewable energy certificates which support renewable electricity development.”

Carbon offsetting and renewable energy certificates are interim measures that CAE will take while new technologies and solutions are being developed to reduce emissions. CAE will work with the industry to progressively use electric aircraft for the live flight training in its academies. CAE will also continue to undertake other measures to reduce its overall emissions, for example, by continually investing to make its full-flight simulators more energy efficient, therefore allowing its customers worldwide to reduce their own footprint.

To learn more about CAE’s corporate sustainability roadmap and achievements, take at its FY19 Annual Activity and Corporate Social Responsibility Report.

CAE and its employees raise more than $1 million for Centraide of Greater Montreal (United Way)

Provided by CAE Inc/CNW

MONTREAL, Nov. 28, 2019 /CNW Telbec/ – (NYSE: CAE) (TSX: CAE) — CAE announces today that it has raised more than one million dollars  $1,015,015) in its 2019 CAE-Centraide (United Way) fundraising campaign. This record amount was collected through employee donations and a corporate donation.

Participation and commitment of CAE employees and Unifor Local 522 were key in raising more than one million dollars for Centraide/United Way
Participation and commitment of CAE employees and Unifor Local 522 were key in raising more than one million dollars for Centraide/United Way

“CAE is an important employer in the Greater Montreal area and I am very proud that we have collected more than 1 million dollars to strengthen the community in which more than 3,500 of our employees live and work,” said Marc Parent, President and CEO of CAE. “This achievement is a testament to the exceptional commitment and generosity of CAE employees, who have always supported Centraide in the fight against poverty and isolation over the years. It demonstrates that strong companies and strong communities go hand in hand.”

CAE and Unifor Local 522 have led campaigns for Centraide for many years and have been commended by 10 Centraide Solidaires Awards, which recognize the excellence and outstanding results of their campaigns. Since 2000, CAE and its employees have donated $12.6 million to Centraide of Greater Montreal. Since 2000, CAE and its employees have donated $12.6 million to Centraide of Greater Montreal.

In addition to Centraide, CAE supports the communities in which it operates through several donations and sponsorships that mainly support causes in education, civil aviation, defence, security and healthcare. The company also encourages volunteering efforts through its CAEvolunteering program, which promotes team volunteering and donates to several causes supported by employees. CAE is also a diversity and inclusion advocate and has created a CAE Women in Flight sponsorship program to encourage more women to pursue a career in aviation.

You can learn more about CAE’s societal goals and achievements in its FY19 Annual Activity and Corporate Social Responsibility Report.

CAE, Jazz and Seneca launch first cadet pilot training program in Canada

Provided by CAE Inc/CNW

  • The new all-Canadian cadet pilot training program called Jazz Approach comes with a conditional letter of employment from the airline
  • For more information, visit cae.com/jazz

MONTREAL, Nov. 19, 2019 /CNW Telbec/ – CAE (NYSE: CAE) (TSX: CAE), Jazz Aviation (Jazz) (a subsidiary of Chorus Aviation Inc.), and Seneca have teamed up to develop Jazz Approach, an innovative Canadian program to provide Jazz with a pipeline of top-quality first officers. Cadets will receive a letter of employment from Jazz upon selection into the program, allowing for a direct path to join the airline as first officers conditional upon successful completion of the program. The parties involved have signed a five-year partnership agreement and the first cohort is set to begin training in April 2020.

“CAE creates over 1,500 new pilots yearly over 30 cadet training programs globally, and we are thrilled to add a first Canadian cadet pilot training program to our list of curricula,” said Nick Leontidis, CAE’s Group President, Civil Aviation Training Solutions. “The demand for pilots has never been so high. With over 300,000 pilots needed globally over the next decade, CAE is working closely with airlines around the world to come up with pilot creation solutions. This program is a one-of-a-kind program, and a great example of how the Canadian aviation industry is working closely together to come up with innovative solutions to face that challenge. We thank Jazz for its trust, we are honored to help expand upon its pipeline of future pilots and we look forward to training them alongside Seneca.”

Jazz Aviation’s pilots have been training in CAE’s network in Canada since 2003. Now, under this new agreement, with its partner Seneca, CAE will be assisting Jazz in the selection, training and certification of new pilots.

“We are very excited to partner with two exceptional Canadian organizations, CAE and Seneca, to introduce the Jazz Approach program,” said Captain Steve Linthwaite, Vice President, Flight Operations for Jazz Aviation. “For Jazz, this innovative initiative will be an expansion of our Jazz Aviation Pathways Program (Jazz APP) and provides yet another avenue for future generations of pilots to launch their careers in aviation.   The roots of the Jazz APP program go back to 2007 and the addition of Jazz Approach is an important step in growing the program to yet another level. We have worked with both CAE and Seneca for many years and we are delighted to have the opportunity to join together to introduce this program in Canada.”

“We are thrilled to be partnering with CAE and Jazz Aviation through this innovative all-Canadian collaboration. The Jazz Approach program builds on the success of our partnership with Jazz Aviation and will be an excellent addition to the suite of academic and hands-on training offered within our School of Aviation,” said Lynne McMullen, Director of Strategic Partnerships with Seneca’s School of Aviation. “The Jazz Approach program is another opportunity for Seneca to be on the forefront of flight training in Canada.”

About the Jazz Approach program
CAE, Jazz and Seneca developed the Jazz Approach program in close collaboration, showcasing the latest competency-based training innovations. The Jazz Approach program embeds Jazz Aviation Standard Operating Procedures (SOPs) and Threat and Error Management strategies. Under the terms of this program, CAE will conduct recruitment, assessment and selection of the cadets according to Jazz’s defined criteria. The cadets will undergo the integrated Airline Transport Pilot License (ATPL) training over 18 months at Seneca’s School of Aviation in Peterborough, Ontario. Following completion, CAE will provide a CRJ200 type rating at CAE Toronto, leveraging CAE’s innovative training equipment. Upon successful completion of the training program and subject to certain conditions, the first graduates will join Jazz Aviation as first officers by the end of 2021. Applications for the Jazz Approach training program will open on December 1st 2019. For more information, visit cae.com/jazz

CAE and Sunwing Airlines extend pilot training agreement

CAE Press Release

Montreal, Canada, November 18, 2019 (NYSE: CAE; TSX: CAE) – CAE and Sunwing Airlines announced today at the 2019 Air Transport Association of Canada (ATAC) Canadian Aviation Conference and Tradeshow that they would be extending their exclusive training agreement and adding five more years to the partnership. CAE instructors will continue to train Sunwing Airlines pilots on the Boeing 737NG aircraft platform at training centers throughout its network, including CAE Montreal and CAE Toronto, until 2030. To help support this pilot training agreement with Sunwing Airlines, CAE will deploy a new CAE 7000XR Series Boeing 737 MAX full-flight simulator (FFS) to CAE Toronto by the end of 2019.

Mark Williams, President of Sunwing Airlines, welcomed the news. “CAE and its instructors provide our pilots with an excellent training experience, so extending our partnership for an additional five years felt like a natural choice for us. We look forward to seeing our pilots train in its state-of-the-art, full-flight simulators such as the new Boeing 737 MAX at the Toronto CAE facility.”

“As the global training partner of choice, training pilots to the highest standards in the industry is our top priority, and we thank Sunwing Airlines for their trust and recognition,” said Nick Leontidis, CAE’s Group President, Civil Aviation Training Solutions. “Sunwing’s growth over the last five years has been very impressive, and CAE is proud to continue supporting the airline with pilot training solutions for many more years to come.”

CAE has been providing pilot training solutions for Sunwing Airlines on Boeing 737NG platforms since 2006 and will now be training its pilots on the Boeing 737 MAX FFS in its training centre located in Toronto.