Surge in Demand for Spare Parts Helps Safran Post $1.1 Billion Profit

French aircraft engine supplier Safran posted higher than expected earnings for the first half of 2022. While supply chain problems continue to plague the industry, the Paris-based company reported a 59% increase in its operating profit, reaching around $1.1 billion during the period.

In its financial report for H1 2022, which was released on July 28, 2022, Safran also said its revenue grew to $8.7 billion, reflecting a significant 24% increase when compared to the same period a year ago.

“Safran posted solid results in the first half of the year amid improvement in air traffic in all regions of the world except China,” Safran chief executive Olivier Andriès was cited as saying in the company’s statement.

The CEO noted that the ongoing recovery in air travel has increased demand for spare aircraft parts. Safran also noticed that demand for medium-haul aircraft parts was notably higher than for wide-body planes.  During H1 2022, the combined delivery of CFM engines reached 492 units, 465 of which were LEAP turbofan engines and 27 were CFM56s. The recent result is an improvement on the 448 aircraft engines delivered by the company during the same period in 2021.

Under this background, The 6th Civil Aircraft Operation Support Technology International Forum 2022 will be held in Chengdu from September 20th to 21st, 2022. Nearly 200 industry leaders from Chinese airlines and Chinese domestic civil aircraft OEMs will be present at the conference.This forum will be held in conjunction with The 27th Maintenance and Spares Support Conference. The Maintenance and Spare Support Conference has been successfully held for 26 years and is well known as one of the most influential professional conferences in the field of civil aviation maintenance in China.The combination will provide an even larger platform for professional networking and a wealth of cutting-edge information for industry colleagues.

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