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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Safran    SAF   FR0000073272

SAFRAN (SAF)
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Safran : CFM and SilkAir Sign $1 Billion Engine-Support Agreement

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11/10/2017 | 06:44pm CEST
 By Sonia Amaral Rohter 
 

French aerospace supplier Safran SA (>> Safran) said Friday that its CFM International joint venture has signed a fifteen-year maintenance agreement to support the LEAP-1B engines installed in SilkAir's new fleet of Boeing 737 MAX 8 aircraft.

The agreement with SilkAir, which is valued at $1 billion at list price, includes a total of 80 engines.

Safran said that under the terms of the agreement CFM International--its joint venture with General Electric (>> General Electric Company)--guarantees the maintenance costs for all SilkAir's LEAP-1B engines on a dollar per engine flight hour basis.

SilkAir is a regional carrier of Singapore Airlines (C6L.SG).

Write to Sonia Amaral Rohter at sonia.amaralrohter@dowjones.com

Stocks mentioned in the article : Safran, General Electric Company
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL ELECTRIC COMPANY -0.32% 12.66 Delayed Quote.-27.22%
SAFRAN 1.23% 119.05 Real-time Quote.36.95%
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Financials (€)
Sales 2018 20 431 M
EBIT 2018 2 762 M
Net income 2018 1 919 M
Debt 2018 4 194 M
Yield 2018 1,55%
P/E ratio 2018 24,50
P/E ratio 2019 20,88
EV / Sales 2018 2,61x
EV / Sales 2019 2,37x
Capitalization 49 064 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 109 €
Spread / Average Target -7,1%
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Managers
NameTitle
Philippe Petitcolin Chief Executive Officer & Director
Ross McInnes Chairman
Bernard-Pierre Jacques Delpit Chief Financial Officer
Stéphane Cueille Senior VP-Research, Technology & Innovation
Patrick Gandil Director
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