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Fri, Aug 13, 2004

CAE: It's Getting Better All The Time

Business Improvement A Sign Of Economic Health In Civil Aviation

The good news: CAE profits were up in the first quarter.

The bad news: CAE has to cut 10-percent of its expenditures to remain competitive.

That was the picture CEO Derek Burney painted Wednesday, saying his company planned to drop the price of its simulators.

"We want to reduce the cost of an average simulator by at least 10 per cent this year," he told reporters at a stockholder's meeting in Montreal. "We are seeing signs of recovery in the airline business, what we are not seeing is an increase in yields." He was quoted in the Toronto Globe and Mail.

Burney said his company will move its headquarters from Toronto to Montreal so it would be located closer to its manufacturing plant.

FMI: www.cae.com

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