French engine and aircraft equipment maker Safran has offered the sale of a business in North America which it agreed in December, as a remedy to address EU concerns about its $1.8 billion bid for Collins Aerospace's flight controls business, a person with direct knowledge of the matter said on Wednesday.
French engine and aircraft equipment maker Safran has offered remedies in an attempt to secure EU antitrust approval for its $1.8 billion bid for Collins Aerospace's flight controls business, an update on the European Commission website showed on Monday.
Safran benefits from European defense efforts, especially with France's proactive stance, and strong civil aviation recovery boosting margins in beleaguered and after market businesses. In the coming year, LEAP engine sales are expected to turn to growth and support the continued expected EBIT growth of the company. Safran trades at a discount to most peers, though Thales is cheaper on a forward multiple basis, and we prefer it as a defense pick.
Canada remains a contender for a carbon brakes factory from France's Safran , the Canadian industry minister said on Tuesday, despite the looming threat of 25% tariffs next week from U.S. President Donald Trump.
EU antitrust regulators are asking rivals and customers whether Safran's bid for Collins' flight controls business would give the French engine and aircraft equipment maker more market power, a person with direct knowledge of the matter said on Wednesday.
The head of French jet engine maker Safran said on Friday he was certain Boeing would reach key production milestones for the 737 MAX jet during this year.
French jet engine maker Safran on Friday revised up
Safran's India unit expects a nearly 70% revenue boost in 2025 from its defence and space business, fuelled by its work on India's human spaceflight mission Gaganyaan and rising private-sector contracts, top executives told Reuters on Wednesday.
Safran SA's stock has declined 5% since September, but it remains a strong buy due to its involvement in major aircraft programs and future growth potential. Opportunities include higher production rates for Boeing 737 MAX and Airbus A320neo, better cost amortization, and increased shipset value from Collins Aerospace. Risks involve aerospace supply chain issues, inflation, approval delays for a $1.8 billion acquisition, and challenges in the seat business from the Zodiac Aerospace acquisition.
Over the weekend and after GE Aerospace stock dipped following an update from key partner, Bernstein analyst Douglas Harned reiterated his Buy-rating and $225 price target for shares.
Pascal Bantegnie, chief financial officer at Safran, discusses the company's future outlook, demand in the aerospace market and reviews European defense policy.
The fall of the French government has created political and economic uncertainty that can sap investor confidence, the head of partially state-owned Safran said on Thursday.