This report does not constitute a rating action. TORONTO (S&P Global Ratings) Oct. 29, 2026--S&P Global Ratings today said that it expects CAE Inc. ’s announced sale of its airline operations software business Flightscape to SITA will modestly reduce leverage in the near term. The sale, announced on Oct. 26, 2026, values the division at $500 million (about C$700 million). We expect it will close after fiscal 2027 year-end (March 31, 2027). Flightscape helps airlines and airports around the world plan and manage flight operations, crew scheduling, aircraft utilization, and flight operations. We estimate Flightscape accounted for about 5% of CAE’s annual revenue and C$40 million-C$50 million of EBITDA, which implies EBITDA margins about 5% lower than the rest of
