We anticipate continued strong growth in commercial aviation training as flight capacity rises to meet travel demands and as mobility restrictions abate in China, which remains a key driver for airlines mainly operating in Asia Pacific, but also worldwide.

Feb 14, 2023 / CEO / receipt, needs a key / Marc Perrin, CEO | earnings call 2023-02-14 | transcript db650741-77c3-457e-9330-61730d8ed88d | chars 11135-11391 | segment 11

Commercial aviation training demand continued to be strongest in the Americas, followed by a seasonal uptick in Europe and in Asia, which has improved with the ongoing easing of travel restrictions in China.

Feb 14, 2023 / CEO / receipt, needs a key / Marc Perrin, CEO | earnings call 2023-02-14 | transcript db650741-77c3-457e-9330-61730d8ed88d | chars 3079-3286 | segment 3

Training utilization in Europe improved in the quarter, with airlines having become more confident about the summer travel period.

May 31, 2022 / CEO / receipt, needs a key / Marc Perrin, CEO | earnings call 2022-05-31 | transcript cca41f82-1f33-4833-8d31-d8ef6de2ce7c | chars 3778-3908 | segment 3

Asia Pacific was a bit better, with some easing of travel restrictions in Singapore and Malaysia, but remained at a much lower level compared to 2019.

May 31, 2022 / CEO / receipt, needs a key / Marc Perrin, CEO | earnings call 2022-05-31 | transcript cca41f82-1f33-4833-8d31-d8ef6de2ce7c | chars 3909-4059 | segment 3

We have additional reason for optimism with the reopening of the U.S. border this week to vaccinated international travelers and the latest news about the potential of antivirals to mitigate the effects of COVID-19.

Nov 11, 2021 / CEO / receipt, needs a key / Marc Perrin, CEO | earnings call 2021-11-11 | transcript 148ba8fe-940d-462a-8cf6-6339655f2d8f | chars 13689-13904 | segment 13

At the same time, as expanding C's reach externally, we embarked on enterprise-level projects to substantially lower our cost structure and achieve even greater levels of operational excellence. You heard Sonia reiterate our expectations that we'll reach an exit rate this fiscal year of $65 to $70 million for annual recurring cost savings from those initiatives. We're in an excellent position to benefit from a broader market recovery which so far has been more narrowly led by domestic air travel, specifically in regions with relatively high vaccination rates and cargo operations.

Aug 11, 2021 / CEO / receipt, needs a key / Marc Perrin, CEO | earnings call 2021-08-11 | transcript 8cdfb4a4-49b4-4ecd-9a44-27aad658bd91 | chars 13614-14200 | segment 13

And while COVID-19 remains a persistent global reality, We're encouraged by the light at the end of the tunnel, and we recognize that market recovery is really a question of when and not if. Fundamentally, the secular growth drivers for our business are unchanged. The resumption of CE's recovery remains highly dependent on the timing and rate at which travel restrictions and quarantines can eventually be safely lifted and normal activities resume in our end market.

Feb 12, 2021 / CEO / receipt, needs a key / Marc Perrin, CEO | earnings call 2021-02-12 | transcript 41db8ee2-8a1e-4ac8-afc9-018a822f3030 | chars 11725-12194 | segment 11