We saw seasonality in Q2 because airlines have been flying a lot. If I looked at Europe this summer, it was — they were — it was very, very busy, and our utilization was substantially low in Europe the summer, but that’s actually normal. We’re back to seasonal rates, and that’s bled a little bit on to Q3. But as we look forward, that’s recovering at a quite substantial way. So, our focus is on maximizing utilization. And with the demand that’s there for us to be able to do that. So, I think watch for increased utilization. And the last thing I would say is while we’re opening up these new training centers and deploying a number of simulators, obviously, they’re taking time to ramp up. So that’s affecting the utilization that you see because they may be half empty or quarter empty or not full at all yet.
So that will affect the overall utilization that you see.
Unidentified Analyst : And is it fair to think about 80% kind of level, whenever you get to this like normalized ramp up?
Marc Parent: Well, we can achieve 80%. We’ve done it in the past. So, we don’t have a target to stop. We’ll maximize the utilization. There really is no sweet spot. And we’re continuing — all training centers are different, different whether it’s business aircraft or commercial aircraft. Again, for us, it’s about meeting the unmet demand that’s out there and ramping up to satisfy it. And — we are deploying a lot of efforts and a lot of resources or both financial and human resources to — as part of our digital transformation, to improve the efficiency and the return that we get to maximize the schedules on the simulators and those training centers so we can increase the amount of training we do and increase the returns on those assets. That’s part of what we’re doing here.
Unidentified Analyst : Okay. And then I’ll dig a little bit deeper on capital deployment and shareholder-friendly capital deployment. Getting to this like net leverage targets, how are you thinking about this? Like are you thinking about a regular dividend again or more opportunistic kind of like special dividends or share buybacks?
Sonya Branco : So, we haven’t come out with that view yet. We’re on ongoing discussions, and so I won’t necessarily get ahead of our Board today, but I can assure you that we’re focused on first of all, closing the transaction, the sale transaction, continuing to generate cash. As a result, we’ll continue that discussion and come back with Quantum and vehicle in the future.
Operator: Our next question comes from Konark Gupta with Scotiabank.
Konark Gupta: Thanks, I’ll just stick to one question. A lot of U.S. airlines are talking about their domestic demand as kind of plateauing or coming down, but they are kind of reallocating some capacity to wide-body aircraft for international travel. I’m curious if you are seeing any significant changes in reassignment training with pilots, especially with respect to your North American customers?
Marc Parent: No. All of those factors are just adding to what I talked about, Konark, in terms of the what we call the churn. Churn pilots moving either narrow bodies to widebodies or copilot to pilot or on 1 plane to another from a regional. Anything like that triggers demand for training. And I could tell you, there’s a lot of unmet demand out there, both in commercial aviation and business aviation. And as I said before, we’re ramping up to satisfy it. And that is part what really gives me the optimism for the future and basically the reality of what I see that leads me to raise the outlook that we have for Civil in the back half of the year.
Operator: Mr. Arnovitz, there are no further questions at this time.
Andrew Arnovitz: Thank you, operator. I want to thank all participants on the call today and remind you that a transcript of the call can be found later on CAE’s website. Thank you, and good afternoon.
Operator: That does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your lines. Thank you.
