Aftermarket Revenues Up 18 Per Cent At Safran

Revenues from Safran’s aftermarket division grew 17.8 per cent in Q1 2015, far outstripping the group’s overall revenue growth rate.

Revenues from Safran’s aftermarket division grew 17.8 per cent in Q1 2015, far outstripping the group’s overall revenue growth rate.

In total, revenues at the group increased 14.3 per cent to €3.94bn ($4.2bn) in the first three months of the year from €3.44bn ($3.6bn) in the same period in 2014.

The high growth rates in its aftermarket division were attributed to the first overhauls of the GE90 and the latest CFM56 engines.

The French OEM also reaffirmed its faith in the LEAP it is developing with partner GE Aviation after speculation that the engine was not hitting fuel burn targets.

During an earnings call yesterday (April 22), Safran’s chief executive Jean-Paul Herteman said he was “100 per cent confident” that the LEAP would be delivered on time and perform as promised.

TAGS: Europe
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