Demand for CAE Inc.’s pilot training services dropped last quarter in step with a decrease in new hires at major airlines and — counterintuitively — lower travel demand brought on by the Paris Olympics.
The smaller need for aviator courses stemmed from “aircraft supply side constraints and special events, namely the Euro Cup and the Paris Olympics,” said CEO Marc Parent.
He told analysts on a conference call Wednesday that both events “altered normal travel behaviour” to and from the Continent.
Carriers including Air Canada, Delta Air Lines and Air France have all reported that the Summer Games hurt their seasonal sales, as travellers opted to steer clear of France, where parts of central Paris were closed off for the duration of the event. A tourist boon locally, the Olympics and the Euro Cup — hosted by Germany in June and July — also deterred North American passengers from crossing …