Safran, the French aerospace and defense company, announced an increase in its profit for the first half of the year. The company attributed this growth to strong demand for aircraft engines and services. In its latest financial report, Safran revealed that its net profit for the first six months rose to €1.2 billion, up from €900 million in the same period last year.
Revenue increased by 15%, reaching €10 billion, driven by a surge in commercial aviation activity as the global air travel industry continues to recover from the COVID-19 pandemic. Safran’s CEO, Olivier Andriès, highlighted the company’s successful performance in both its aerospace propulsion and aircraft equipment sectors. “Our solid results reflect the robust recovery in air traffic and the strong demand for our engines and services,” he said.
The company saw significant growth in its civil aerospace division, with a notable increase in deliveries of LEAP engines, which power the Boeing 737 MAX and Airbus A320neo aircraft. Safran’s services segment also performed well, benefitting from increased maintenance and repair activities as airlines ramp up operations.
Despite challenges such as supply chain disruptions and inflationary pressures, Safran maintained its outlook for the full year, expecting continued growth in revenue and profit. The company is also focusing on advancing its research and development efforts, particularly in sustainable aviation technologies, to meet future industry demands. Safran’s positive financial performance comes as a reassurance to investors and stakeholders, showcasing its resilience and adaptability in a dynamic market environment.
