CAE sells $75 million worth of flight simulators

CAE Inc. said Thursday it has signed contracts to build five full-flight simulators worth $75 million for three airlines, including China Eastern Airlines and its training subsidiary.

State Capitalism Quebec Style

"Quebec contributes to $630M CAE plan for new flight simulators Corporate Welfare rules in Canada."

CAE cutting 350 jobs in Montreal (CBC Montreal)

MONTREAL - The flight simulator firm CAE Inc. is cutting 450 jobs, mostly in Montreal. The company lost $347 million in the third quarter of 2004. The company says it will reorganize its corporate structure, and let go eight per cent of its workforce.