CAE INC - CAE STOCK NEWS

CAE has released its 2020-2029 Pilot Demand Outlook, forecasting a need for over 260,000 new professional pilots in the next decade. Despite a significant decline in active pilots due to COVID-19 in 2020, CAE expects the pilot population to recover by 2022, with an immediate demand for 27,000 new pilots starting late 2021. The report emphasizes ongoing challenges due to retirements and attrition, while highlighting the importance of digital technology and innovative training solutions to meet future aviation needs.

CAE will announce its fiscal year 2021 second quarter results on November 10, 2020, at 1 p.m. ET. The conference call will feature President and CEO Marc Parent, CFO Sonya Branco, and VP Andrew Arnovitz, providing insights for analysts and investors. The meeting will be accessible via webcast and archived on CAE's website. CAE has a strong foothold in digital immersion and provides critical solutions across various sectors with over 60% of its revenue being recurring.

CAE has announced achieving carbon neutrality as of September 28, 2020, becoming the first Canadian aerospace company to do so. This milestone reflects CAE's commitment to reducing emissions and investing in projects that offset its carbon footprint. The company prevents significant CO₂ emissions by utilizing flight simulators for pilot training. Moreover, CAE is investing in renewable energy and greenhouse gas reduction projects, including wind energy in India and forest preservation in Canada, further contributing to its sustainability goals.

CAE has launched Airside, a digital platform designed for pilots to support their career development during the COVID-19 pandemic. Developed after surveying over 3,000 pilots, Airside has attracted over 10,000 visitors since its launch in June 2020. The platform includes a range of tools such as a Resume Builder, career articles, and podcasts to help pilots enhance their skills and connect with industry resources. CAE aims to foster a strong pilot community and continually improve the platform based on user feedback.

CAE has launched a new financing initiative aimed at aspiring pilots, collaborating with financial institutions globally. This program addresses significant barriers to pilot training by providing tailored financing solutions, including faster application processing and competitive rates. The initiative is in response to anticipated demand for new commercial pilots over the next decade, despite the COVID-19 pandemic's impact on the aviation industry. CAE is also seeking further partnerships to enhance the program's reach.

CAE (NYSE: CAE, TSX: CAE) announced the results from its 2020 Annual Meeting of Shareholders, where all 10 nominated directors were successfully elected. Notable votes included Margaret Billson with 98% approval and Marianne Harrison with an impressive 99.94%. The results indicate strong shareholder support for the board, crucial for CAE's ongoing strategy in high-stakes environments like civil aviation and healthcare. Concurrent filings with securities regulators detail voting matters.

CAE, a technology leader in digital immersion, emphasizes a recurring revenue model, with over 60% of its revenue from repeat customers.

CAE reported Q1 fiscal 2021 revenue of $550.5 million, down 33% from $825.6 million last year, with a net loss of $110.6 million (negative $0.42 per share). Segment operating loss of $110.3 million contrasts sharply with last year's operating income of $110.9 million. The company announced a $100 million restructuring program expected to yield $50 million in annual savings. Order intake was $417.1 million, with a backlog of $8.6 billion.

CAE's virtual Annual Meeting of Shareholders is scheduled for August 12, 2020, at 11:00 a.m. ET. The management will review FY2020 activities and present Q1 FY2021 financial results, with insights from Marc Parent, CEO. Following the meeting, a conference call will begin at 1:30 p.m. ET to discuss performance and outlook, available to analysts and investors. The webcast of both events will be archived for public access.

CAE has appointed Daniel Gelston as Group President of Defence & Security, effective August 24, 2020, succeeding Heidi Wood. Gelston brings over 20 years of experience in the U.S. military and global defence industry, previously serving as President at L3Harris Technologies. His leadership is expected to drive growth in CAE’s Defence sector. Gelston holds degrees in Strategic Intelligence and Economics from Bucknell University and has a military background as an Armor and Military Intelligence Officer.