July 14, 2018 / 10:55 AM / a month ago

CFM confident of meeting LEAP engine target this year

LONDON (Reuters) - Aircraft engine maker CFM is confident it will meet a target to deliver 1,100 LEAP engines this year, despite still being a few weeks behind schedule, executives said on Saturday.

CFM, a joint venture between General Electric (GE.N) and Safran (SAF.PA), had said in May it was 4-6 weeks behind schedule.

On Saturday, CFM officials said the delay had peaked at about 7 weeks but had since eased to 4-5 weeks.

“The gap is closing” CFM executive vice president Sebastien Imbourg said in a briefing ahead of the Farnborough Airshow.

The delays have led to a queue of about a dozen semi-finished aircraft at Boeing’s Renton plant near Seattle parked without engines, industry sources said.

“We continue to work closely with our supply chain on their recovery efforts ... and we’re working closely with our customers to minimize any impact and ensure timely deliveries,” a Boeing spokesman said.

Airbus says it has more than 80 aircraft waiting for engines due in part to CFM delays, but mainly due to late supplies from alternative engine supplier Pratt & Whitney (UTX.N).

CFM is the sole engine supplier for the Boeing 737 family and competes with Pratt & Whitney (UTX.N) to power the Airbus A320.

Reporting by Tim Hepher and Victoria Bryan; Additional reporting by Eric Johnson; Editing by Mark Potter

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