The head of CAE Inc. says the Iran war is poised to continue hammering its bottom line, as the flight simulator maker scales back its footprint abroad to achieve millions of dollars in savings.
CEO Matthew Bromberg says the turmoil in the Persian Gulf is “having a month-by-month impact” on bookings and sales as airlines slash flight schedules and dial back training in a conflict zone.
The upheaval comes as CAE enters what Bromberg calls a “reset year,” with the company six months into a transformation plan that will see it remove 10 percent of its commercial flight simulators to cut costs….