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France’s Safran raises 2022 revenue and cashflow targets

ReutersOctober 28, 20220

PARIS (Reuters) – French jet engine maker and aerospace supplier Safran on Friday raised its full-year revenue and free cashflow forecasts after posting a 29.9% rise in third-quarter revenues buoyed by a strong dollar. Chief Executive Olivier Andries said the improved outlook reflected currencies and “confidence in our ability to deliver,” striking a contrasting note to Boeing which on Wednesday had said engines were its main output constraint. Safran co-produces engines for the Boeing 737 with General Electric through their CFM venture, which also competes with Pratt & Whitney to power the Airbus A320. Engine makers have reported problems in

France’s Safran tackles impact of Ukraine war but confirms targets

ReutersApril 29, 20220

PARIS – French aerospace group Safran warned of “significant impacts” from the war in Ukraine and from rising inflation, but confirmed full-year forecasts as it reported 22% growth in first-quarter revenue. The maker of jet engines and landing gear said quarterly adjusted sales rose 17% on a like-for-like basis to 4.071 billion euros ($4.3 billion). “We are taking vigorous steps to offset fully the margin impact of the Russia-Ukraine conflict and inflation, notably with additional savings,” Chief Executive Olivier Andries said. Together with General Electric, Safran co-produces the world’s most sold jet engines for Boeing and Airbus medium-haul airliners through

Airbus, Safran consortium to buy fighter jet parts maker A&D

ReutersFebruary 22, 20220

By Gus Trompiz and Tim Hepher PARIS -A consortium backed by Airbus and Safran has agreed to buy superalloys supplier Aubert & Duval from Eramet after the French government stepped in to protect its strategic interests in the maker of fighter jet and submarine parts. The preliminary deal comes more than a year after mining group Eramet , launched a review of its loss-making specialist metal alloys business and entered talks with Airbus, jet engine maker Safran and Tikehau Ace Capital. The provisional agreement, which the parties expect to finalise before year end, gives the loss-making A&D business an enterprise