CAE has reported its financial result for the third quarter, ending December 31, is a net loss of 347 million Canadian dollars. It has also announced a restructuring plan aimed at restoring the company’s profitability.

Robert Brown, who joined the company in August as president and ceo, says CAE will maintain its Civil Training Group, which will be devoted to training, simulation, modeling and sales, plus a new Simulation Products Group that will consolidate all manufacturing activities and include engineering, programme management and global procurement.

Jeff Roberts will continue to lead The Civil Training Group and Marc Parent, with 20 years experience in aerospace, will be the group president of the new Simulation Products Group.