CAE To Sell Airline Operations Software Business For $500 Mln To SITA

Saab has signed agreements with IMP Aerospace, Magellan Aerospace, and CAE Inc. for final assembly, manufacturing, and training if Canada selects its Gripen E fighter jet. The deals are conditional on Canada's decision to purchase Gripens over U.S.-made F-35s. Saab describes these as 'principal partners' for a potential national industrial program.

CAE's sale of Flightscape to SITA for US$500M exceeded Scotiabank's expectations, leading to a price target increase to C$49. The bank anticipates C$730M in net proceeds, up from C$200M, and sees potential for further asset sales. CAE's transformation is expected to complete by mid-2027, with proceeds possibly used for investment, debt reduction, or share buybacks.

SITA agreed to buy CAE's Flightscape, a digital aviation software, for CA$701M ($500M). Flightscape, used by 90+ airlines, complements SITA's existing products. CAE plans to use proceeds for shareholder rewards and investments. Analysts expect more divestitures from CAE, with Flightscape making up 4-5% of its revenue. The deal is expected to close in H1 2027.

CAE (CAE-T) will sell its Flightscape airline operations software business to SITA for $500 million, including debt, with the deal expected to close by mid-2027. The sale aligns with CAE's strategy to focus on its core simulation and training businesses, as outlined by CEO Matthew Bromberg. Flightscape helps airlines with flight planning, crew management, and service coordination.

CAE agreed to sell its Flightscape airline operations software unit to SITA for $500 million. The transaction is expected to close in the first half of 2024, subject to regulatory approvals and customary closing conditions.

CAE Inc. (CAE) agreed to sell its Flightscape unit to SITA for $500 million, subject to adjustments. The deal is expected to close in early 2027. CAE plans to use proceeds for core businesses and shareholder returns. Flightscape provides airline operations software.