CAE statement on the suspension of services and training to Russian airlines and operators

Rhea-AI Summary

CAE has announced the suspension of all services and training to Russian airlines and healthcare distributors, responding to the humanitarian crisis in Ukraine. The company has donated C$60,000 to the Red Cross, with total contributions exceeding C$125,000 from CAE and its employees. CAE has no facilities in Russia but previously supported Russian airlines with training and simulator services. The suspension reflects CAE's commitment to humanitarian efforts while maintaining its operational integrity in the global market.

Positive

• Donated C$60,000 to the Red Cross for Ukrainian humanitarian relief.
• Total contributions from CAE and employees exceed C$125,000.
• No operations in Russia, minimizing direct financial impact.

Negative

• Suspension of services may lead to lost revenue from Russian clients.
• Potential long-term impacts on international business relations.

MONTREAL, March 8, 2022 /PRNewswire/ - CAE (NYSE: CAE) (TSX: CAE) announced that it has suspended all services and training to Russian airlines, aircraft operators and healthcare distributors, in light of Russia's invasion of Ukraine.

CAE is saddened by the humanitarian crisis in Ukraine, and in support of its people, CAE has ceased to offer training services to pilots of Russian airlines as well as corporate and cargo operators in its training network. The company has also ceased to sell and service simulators for Russian airlines as well as healthcare distributors.

To support the humanitarian relief operations for Ukrainian refugees fleeing war, CAE has donated C$60,000 to the Red Cross. To date, CAE employees worldwide have donated more than C$65,000 to the Red Cross, for a total of more than C$125,000 donated by CAE and its employees. CAE will continue to match employee donations worldwide until March 31.

CAE employees in Hungary and Poland are also volunteering their time to support the Red Cross as well as individually supporting the needs of Ukrainian refugees.   

CAE does not have any facilities in Russia.  Prior to the suspension, CAE serviced simulators sold to Russian airlines with parts and update services and trained a number of Russian airlines in its global training centre network.

About CAE
CAE is a high technology company, at the leading edge of digital immersion, providing solutions to make the world a safer place. Backed by a record of more than 70 years of industry firsts, we continue to reimagine the customer experience and revolutionize training and operational support solutions in civil aviation, defence and security, and healthcare. We are the partner of choice to customers worldwide who operate in complex, high-stakes and largely regulated environments, where successful outcomes are critical. As testament to our customers' ongoing needs for our solutions, over 60 percent of CAE's revenue is recurring in nature. We have the broadest global presence in our industry, with more than 11,000 employees, 180 sites, and training locations in over 35 countries. www.cae.com

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View original content:https://www.prnewswire.com/news-releases/cae-statement-on-the-suspension-of-services-and-training-to-russian-airlines-and-operators-301498389.html

SOURCE CAE INC.

FAQ

What services has CAE suspended to Russian airlines?

CAE has suspended all services and training to Russian airlines and aircraft operators.

How much has CAE donated to support Ukraine?

CAE has donated C$60,000 to the Red Cross, with total contributions exceeding C$125,000.

Does CAE have any facilities in Russia?

No, CAE does not have any facilities in Russia.

When will CAE match employee donations for Ukraine support?

CAE will continue to match employee donations until March 31.

What has CAE done to support humanitarian efforts in Ukraine?

CAE has donated money and employees are volunteering with the Red Cross.