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Safran Group forecasts delivery of 800 CFM LEAP engines in 2021
February 26th 2021
Aviation, defence and space company, Safran Group, said overnight the recent slowing of the air traffic recovery in several regions of the world had generated uncertainty, "notably with a risk of delayed recovery of the civil aviation aftermarket" as it reported net profit declined 68.3%, to 844 million euros (US$1.02 billion), in calendar 2020, from 2.67 billion euros in the prior corresponding year. Read More » Revenue fell 33% to 16.5 billion euros, the company said. Safran expected "back-end loaded activity and profitability" in calendar 2021 with the company to deliver about "800+” CFM International LEAP engines in the 12 months. LEAP engines power the A320neo family, the 737 MAX family and COMAC C919. In 2020, customers accepted 815 deliveries and 1,736 in 2019. "The total mobilisation of all teams has enabled Safran to tackle this crisis and to deliver decent margins and cash flow generation," Safran Group CEO, Olivier Andriès, said. "Although uncertainties and headwinds remain, notably for the first half of 2021, I am determined and optimistic."
