MONTREAL (Reuters) - Canada's CAE Inc (TO:CAE), the world's largest civil aviation training company, on Friday reported a better-than-expected profit, driven by strength in its commercial pilot training and simulators business.
CAE is inking deals to train pilots for airlines like easyjet Plc (L:EZJ), as air traffic rises.
Both CAE and U.S.-based Textron Inc's (N:TXT) TRU training division are also seeing an increase in demand for flight simulators after Boeing (N:BA) earlier this year recommended that airline pilots retrain before flying the grounded 737 MAX plane, which is being fixed by the planemaker for a software problem.
Revenue in CAE's civil aviation training business jumped about 22% to C$558.1 million in the third quarter ended Dec. 31.
CAE reaffirmed its full-year outlook for 30% growth in operating income in the civil aviation training business.
Montreal-based CAE said net income attributable to shareholders rose 26% to C$97.7 million ($73.4 million), or 37 Canadian cents per share, in the quarter.
Revenue rose 13% to C$923.5 million.
Analysts on average had expected quarterly earnings of 35 Canadian cents per share and revenue of C$939.7 million, according to IBES data from Refinitiv.