The Middle East war cost CAE Inc. millions of dollars in its latest quarter, as the company navigates a “reset year” that will see it drastically reduce its global footprint in a bid to lower expenses, said chief executive Matthew Bromberg.
The CEO told analysts Thursday the conflict accounted for two-thirds of a striking drop in adjusted operating income in its civil aviation segment, or more than $11 million.
“The Middle East is causing disruption in fuel prices around the world, and that’s affecting some of our customers,” Bromberg said on a conference call, adding that he views the earnings hit as temporary….