UPDATE 1-French group Safran maintains forecasts as quarterly sales fall 38%
Reuters
4/30/2021
PARIS, April 30 (Reuters) - French aero engine and equipment maker Safran reported on Friday a 38% drop in first-quarter revenues but maintained full-year forecasts as airlines face a bumpy recovery from the coronavirus pandemic.
Chief Executive Olivier Andries said the downturn reflected continued uncertainty over the industry's worst crisis but voiced optimism about a relatively quick pickup in demand for medium-haul models that support much of Safran's business.
Safran co-produces engines for the Boeing 737 MAX family and competes with Pratt & Whitney on the Airbus A320neo in the busiest segment of the jetliner market through their CFM International venture.