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Safran: no improvement in business conditions in May compared to April - CEO tells BFM Business
Safran SA is a France-based high-technology company which produces aircraft and rocket engines and propulsion systems. It divides its work into three segments: Aerospace, Aircraft and Defense. The Aerospace Propulsion division provides engines, turbines and parts for aircraft, and rocket boosters for civil, military and spatial markets. The Aircraft Equipment division produces landing gear, wheels and carbon brakes, aircraft engine nacelles and airborne power electronics. The Defense division includes the subsidiary, Sagem, and makes systems and equipment for inertial navigation and other defense applications to be used on military transport and combat aircraft, helicopters, warships, armored vehicles and artillery systems. It operates through ISEI, Aerospace Power Distribution Management Solutions and the Integrated Cockpit Solutions business of Eaton Corporation and Zodiac Aerospace.
Aerospace & Defense
2 boulevard du General Martial Valin
Paris Cedex 15
Chairman of the Board
Chief Executive Officer, Director
Chief Financial Officer
Director Representing Employees
Director Representative of the French State
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TARMAC Aerosave, a unit of French industrial groups Airbus <AIR.PA>, Safran <SAF.PA> and SUEZ <SEVI.PA>, plans a fourth aircraft storage site, after around two thirds of the global fleet was grounded at the height of the coronavirus pandemic.
Safran <SAF.PA> shares rose on Thursday after Boeing <BA.N> said it would restart production of its 737 MAX jet and announced further cost-cutting measures.
France's Safran <SAF.PA>, the world's third-largest aerospace supplier, said on Thursday it had laid off 3,000 employees in Mexico as the aerospace industry faces an unprecedented crisis stemming from the coronavirus pandemic.
France's Safran, the world's third-largest aerospace supplier, said on Thursday it had laid off 3,000 employees in Mexico as the aerospace industry faces an unprecedented crisis stemming from the coronavirus pandemic.
France's Safran <SAF.PA> reported an 8.8% drop in like-for-like first-quarter revenue to 5.38 billion euros ($5.84 billion) as the coronavirus crisis began to weigh on its aircraft engines and interiors business.
France's Safran reported an 8.8% drop in like-for-like first-quarter revenue as the coronavirus crisis began to weigh on its aircraft engines and interiors activity.
French aviation, space and defence technology firm Safran has raised a €3bn term loan from 12 banks in the wake of the coronavirus pandemic.
* Safran has adapted the Easybreath Subea snorkeling mask from sports retailer Decathlon to protect medical personnel from airborne droplets that could transmit the coronavirus, in conjunction with the engineering firm Segula Technologies and with support from the French...
France's Safran expects revenues to fall about 5% in the first quarter and has expanded cost-reduction efforts after suspending its 2020 outlook and scrapping its dividend to preserve cash, Chief Executive Philippe Petitcolin said.
French aerospace supplier and engine maker Safran withdrew its dividend and outlook and unveiled a new 3-billion-euro credit line, becoming the latest company to rein in cash due to the impact of the coronavirus crisis.
French aerospace supplier and engine maker Safran withdrew its dividend and outlook, and announced it had negotiated a new 3-billion-euro credit line on Thursday. (Reporting by Tim Hepher; Editing by Sandra Maler)
French aerospace contractor Safran <SAF.PA> is preparing to expand planned cost-saving measures as the coronavirus crisis widens, Chief Executive Philippe Petitcolin said.
Safran's chief executive said on Thursday the French engine maker is in talks with Airbus over plans to increase production of its A320neo jet as Boeing's 737 MAX remains grounded.
France's Safran <SAF.PA> posted a stronger-than-expected rise in 2019 core profit led by jet engine spare parts, but warned of flat-to-lower 2020 revenue hit by Boeing's <BA.N> 737 MAX grounding crisis.
Aerospace supplier Safran said it was targeting 300 million euros ($326 million) of cost savings and other measures to cope with the grounding of the Boeing 737 MAX.
France's Safran posted a faster-than-expected rise in 2019 core profit led by jet engine spare parts, but warned of flat-to-lower 2020 revenues as it counts the cost of Boeing's 737 MAX grounding crisis.
Shares in European aerospace group Airbus <AIR.PA> rose on Tuesday, after archrival Boeing <BA.N> said it would suspend production of its best-selling 737 MAX jetliner in January.
France's Safran SA <SAF.PA> has shelved plans to install an electric taxiing system on Airbus <AIR.PA> A320 jets after the planemaker halted discussions on the project, it chief executive said.
The head of French jet engine maker Safran <SAF.PA> has voiced caution over the ability of aerospace supply chains to ramp up quickly after the return to service of the Boeing 737 MAX, which has been grounded for months following two fatal accidents.
France's Safran <SAF.PA> and MTU Aero Engines <MTXGn.DE> of Germany have agreed to develop together a jet engine for a Franco-German fighter, removing a key obstacle to one of Europe's flagship defence projects.
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