|Over a week ago|
Booz Allen, CAE and others to compete for orders on $240M Army contract » 17:1807/1907/19/21
Booz Allen (BAH), CAE…
Booz Allen (BAH), CAE (CAE) and others will compete for each order of the $240M firm-fixed-price contract for mission support services for the Futures and Concepts Center. Bids were solicited via the internet with 15 received. Work locations and funding will be determined with each order, with an estimated completion date of July 18, 2026. U.S. Army Field Directorate Office is the contracting activity.
CAE to invest C$1B in innovation over next five years » 15:2207/1507/15/21
CAE has announced that it…
CAE has announced that it will be investing C$1 billion over the next five years in innovation. The investment will fund Project Resilience, a transformation project to develop the technologies of tomorrow, including digitally immersive solutions using data ecosystems and artificial intelligence in civil aviation, defence & security and healthcare. "The project will also allow CAE to position itself as a leader in end-to-end technology, operational support and training solutions for Advanced Air Mobility, as well as develop green light aircraft technologies," the company said. "In partnership with the Government of Canada and the Government of Quebec, the project will allow CAE to play a key role in making air travel safer, defence forces mission ready, and helping medical personnel save lives." The Government of Canada and the Government of Quebec will provide a combined investment of C$340 million over the next five years. Through the project, CAE will invest in the development of electric aircraft technologies and solutions, including retrofitting its large fleet of light trainer aircraft to reduce its carbon footprint. CAE announced on Sept 28, 2020 that it became the first Canadian aerospace company to reach carbon neutrality.
CAE, Volocopter partner to develop, deploy pilot training program for eVTOLs » 07:1407/0807/08/21
CAE and Volocopter…
CAE and Volocopter announced the signing of a strategic partnership, subject to definitive agreement, to develop, certify, and deploy an innovative pilot training program for electric vertical takeoff and landing, or eVTOL, operations. This eVTOL pilot training program will develop the pilot workforce of the future and ensure safe introduction of eVTOL operations globally by leveraging CAE's advanced technologies such as Artificial Intelligence, Virtual Reality, Mixed Reality, as well as data analytics and Volocopter's leading understanding of requirements for integration into the UAM ecosystem. The company's first commercial eVTOL aircraft, the VoloCity, is well into its certification program with the European Union Aviation Safety Agency and is positioned to launch first services in time for the 2024 Olympics in Paris. Through existing agreements and partnerships with global leaders, Volocopter plans to launch its services in a number of cities globally within the next five years. CAE commits to expanding its worldwide training network with a forecasted investment of up to $40M to meet Volocopter's projected pilot demand in the early years of operation. CAE will be deploying training equipment and instructors in lockstep with Volocopter's growth. As part of the agreement, Volocopter will purchase a simulator from CAE to be used in its pilot training program certification. CAE will create new, student-centric courseware, specifically designed for the pilots of the future as Volocopter's courseware provider and will also offer pilot trainees customized resources that enable faster, more efficient pilot training.
CAE price target lowered to C$39 from C$40 at TD Securities » 12:5306/2906/29/21
TD Securities analyst Tim…
TD Securities analyst Tim James lowered the firm's price target on CAE to C$39 from C$40 and keeps a Hold rating on the shares.
|Over a month ago|
CAE gets approval to acquire L3Harris Technologies military training business » 06:0406/2806/28/21
CAE (CAE)announced that…
CAE (CAE)announced that it has received all the required regulatory approvals for the previously announced acquisition of L3Harris Technologies' (LHX) military training business for $1.05B subject to customary adjustments and expects closing to be complete on July 2. The company said, "The acquisition of L3Harris' Military Training business will expand CAE's position as a platform-agnostic training and simulation company serving the global defence and security market. The L3Harris Military Training business, which includes Link Simulation & Training, Doss Aviation and AMI, will be integrated with CAE USA. This will approximately double CAE's core military training business in the United States. The Acquisition will also serve to broaden CAE's ability to provide training and operational support solutions across multi-domain operations by diversifying CAE's training and simulation leadership in the air domain, complementing land and naval training solutions, and enhancing CAE's capabilities in space and cyber."
CAE price target raised to C$40 from C$38 at Canaccord » 10:5605/2005/20/21
Canaccord analyst Doug…
Canaccord analyst Doug Taylor raised the firm's price target on CAE to C$40 from C$38 and keeps a Hold rating on the shares.
CAE price target lowered to C$43 from C$44 at CIBC » 10:5105/2005/20/21
CIBC analyst Kevin Chiang…
CIBC analyst Kevin Chiang lowered the firm's price target on CAE to C$43 from C$44 and keeps an Outperformer rating on the shares.
CAE reports Q4 adjusted EPS C$0.22 vs. C$0.46 a year ago » 08:3405/1905/19/21
Reports Q4 revenue…
Reports Q4 revenue C$894.3M vs. C$977.3M a year ago. Reports Q4 adjusted EPS excluding COVID-19 government support programs C$0.12. On CAE's outlook, CEO Marc Parent added, "we are making important progress to galvanize CAE as an industrial technology leader and position the company for higher growth. This includes the integration of our four recent acquisitions in Civil that will strengthen our offering and expand our addressable market with highly innovative software solutions. In Defence, the opportunity to acquire L3Harris' Military Training business will significantly accelerate our Defence growth strategy and align us more closely with national defence priorities. In addition, we maintain the financial flexibility and bandwidth to continue to cultivate a pipeline of sustainable growth opportunities, including the deployment of expansion capital and customer outsourcings. We expect strong growth in fiscal year 2022, with the slope of recovery continuing to depend on the timing and rate at which travel restrictions and quarantines can be safely lifted in our various geographies and normal activities resume in our end markets. For the long-term, we are more confident than ever that CAE will emerge from this period in a position of even greater strength."
CAE selected by Jaunt Air Mobility to design JASIL for eVTOl aircraft » 06:0405/1205/12/21
CAE announced that it has…
CAE announced that it has been selected by Jaunt Air Mobility to lead the design and development of the Jaunt Aircraft Systems Integration Lab, or JASIL, for the the company's new all-electric vertical take-off and landing, or eVTOL, aircraft, the Journey aircraft. Leveraging CAE's 70+ years of experience in simulation, CAE will work hand-in-hand with Jaunt to bring simulation and modeling to the aircraft development program from inception. Certification plans for the Jaunt Journey are set to begin in 2023 and culminate in 2026 with entry-in-service, or EIS, expected in early 2027. As part of the agreement, CAE and Jaunt Air Mobility intend to build an engineering simulator which will accelerate cockpit design and system development, and will reduce the airworthiness flight test time. The JASIL program is designed to derisk the aircraft program's schedule and manage development costs by identifying integration issues and proving failure modes early in the program.
|Over a quarter ago|
CAE opens COVID-19 Vaccination Centre in Quebec » 10:0704/2604/26/21
CAE announced the opening…
CAE announced the opening of its COVID-19 Vaccination Centre, located at CAE's headquarters in the St-Laurent borough, the first hub of its kind to open in Quebec. CAE has been working in close collaboration with the CIUSSS du Nord-de-l'Ile-de-Montreal and Quebec's Ministry of Health and Social Services for operational support to ensure a safe and efficient vaccination roll-out. Several partnering companies have also offered resources and support- including ABB, CGI, Essilor, Intact, LEM experts-conseils, L'Oreal Canada, Medicom, Moneris, Pyure, Rolls-Royce Canada, Safran, Solotech and Top Aces. Partners contributed to this initiative by donating monetary contributions and/or protective and sanitary equipment, as well as medical and administrative personnel to staff the Centre.