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Canada's CAE posts 77% slump in quarterly profit

May 19 (Reuters) - Aviation training specialist CAE Inc on Wednesday reported a 77% drop in fourth-quarter profit, as demand for its full-flight simulators and pilot drills remained stressed due to the COVID-19 pandemic. The company said its net income fell to C$18.8 million ($15.58 million), or 7 Canadian cents per share, in the fourth quarter, from C$81.1 million, or 29 Canadian cents per share, a year earlier. ($1 = 1.2066 Canadian dollars) (Reporting by Shreyasee Raj in Bengaluru; Editing by Ramakrishnan M.)

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