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CAE reports a 26% profit drop in Q2 due to reduced pilot training demand and US airline hiring decline.
CAE, a flight simulator maker and commercial pilot trainer, reported a 26% year-over-year profit drop in the quarter ending June 30 due to reduced demand for pilot training, partly due to the Paris Olympics and the Euro Cup affecting travel behavior to Europe.
US airlines also decreased hiring by 80% year-over-year.
Despite short-term challenges, CAE remains optimistic about the long-term prospects due to the aging pilot population, mandatory retirements, and continued growth in air travel.
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CAE reporta una caída del 26% en beneficios en Q2 debido a la reducción de la demanda de entrenamiento de pilotos y la disminución de la contratación de aerolíneas estadounidenses.