New Aerospace Director
Volatus Aerospace Strengthens Board with Appointment of Catherine Loubier as Director
Anonymous
Volatus Aerospace (TSX: FLT) has appointed Catherine Loubier to its Board of Directors, replacing Omar Mourad, the company announced June 4, 2026. Montreal Gazette reported that Loubier is a nominee of Investissement Québec, the provincial agency that has poured $10.5 million into the drone maker.
The move caps a dramatic 12-month run for Volatus. Its stock has returned 408% over that period, The Observer noted. The company now carries a market cap of $343 million and is tracking a defense sales pipeline worth more than $500 million.
Loubier Brings Diplomatic Firepower to Volatus Board
Loubier is no ordinary corporate director. She served as Quebec's Delegate General in New York from 2019 to 2021. Before that, she was Senior Advisor to Prime Minister Stephen Harper from 2013 to 2015, according to Whitecourt Star. She also helped broker the $34 billion Hydro-Québec–New York clean energy agreement.
CEO Glen Lynch said her experience across "government, international business, infrastructure, technology, and Canada-U.S. relations brings valuable perspective" as the company pushes its growth strategy. Her deep ties to U.S. markets and Quebec's political establishment make her a key asset for landing high-level government contracts.
Canada's Defence Shift Puts Volatus in the Spotlight
Canada released its first-ever Defence Industrial Strategy in February 2026. The strategy commits $6.6 billion to targeted defense investments. Volatus shares jumped 6.5% on the day of that announcement. The company has since built a new drone manufacturing facility in Mirabel, Quebec, aimed squarely at NATO-aligned demand.
Volatus also introduced its "V-Cortex" AI flight controller at the CANSEC defense trade show in May 2026. That same month, it closed a $30 million bought deal public offering. The company is now a participant in the U.S. Drone Dominance Program, making Loubier's New York connections especially valuable.
Strong Margins but Profitability Still Out of Reach
Volatus posted record gross margins of 35% in Q1 2026 — the highest in its history. Revenue in Europe and the UK grew 150% in 2025, fueled by NATO contracts. The company graduated from the TSX Venture Exchange to the full Toronto Stock Exchange on March 20, 2026, a major milestone for any Canadian company.
But the company has not yet turned a profit. Its earnings per share sit at negative $0.03 over the past 12 months. Some analysts warn that the board is growing "heavy with political and military stars" while shareholders face dilution from the recent $30 million equity raise. Investissement Québec holds debentures at a steep 12.5% annual interest rate, maturing in 2029.
A Political-Military-Industrial Board Takes Shape
Loubier's appointment completes what analysts call a "political-military-industrial" triad at Volatus. Current director Lt. Gen. (Ret'd) Andrew Leslie — a former Commander of the Canadian Army — now chairs the company's newly formed Advisory Board. That board includes several other retired generals.
Outgoing director Omar Mourad, an M&A specialist, had served as Investissement Québec's nominee since June 2025. Loubier now takes that seat. For Quebec, her presence signals the province's push to make itself a global hub for autonomous aviation. For Volatus, it signals something bigger: a drone startup that has become a serious player in the Canadian defense establishment.
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