Good week...
CAE The simulators and training specialist racked up a strong first half on the back of civil and military demand. Pre-tax profit for the six months to 30 September was up 28% to C$87.7 million ($94.5 million) as revenue climbed 22% to C$712.2 million. Chief executive Robert Brown says: "Despite the rising Canadian dollar over the past three years, we have achieved greater profitability by lowering costs and...are accelerating initiatives to...capture additional savings."
Bad week...
Liquidity The €3.4 billion ($4.7 billion) takeover of Spanish flag carrier Iberia by British Airways, TPG (formerly Texas Pacific Group) and three Spanish private-equity firms has been held up for want of bank finance. BA chief executive Willie Walsh is confident funding will be lined up soon, but says: "The credit crunch has slowed down the progress we had expected to see by now." He adds: "You just have to realise that deals are more difficult than six months ago."
Source: Flight International
