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☆ Airplane engines are in short supply. The business of fixing older ones is booming
▼ + stars: | 2024-09-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

It's all piling up, and aircraft engine shops around the world are overflowing. American Airlines ' solution is to do more of the work itself. "We just have one customer and that's American Airlines doing our work," American's chief operating officer, David Seymour, said. GE Aerospace brought in $11.7 billion from engine maintenance, repairs and overhaul in the first half of 2024, making up 65% of its revenue. An airplane engine at American Airlines' test cell in Tulsa, Oklahoma.

Persons: David Seymour, Tulsa , Oklahoma Erin Black, It's, France's Safran, Seymour, Leslie Josephs, Thomas Toepfer, Kevin Michaels, Martin Gauss, Pratt, that's, Advisory's, Erin Black, Michaels Organizations: Boeing, Airbus, Alton Aviation Consultancy, GE Aerospace, GE, Pratt & Whitney, Royce, American Airlines, Airlines, CFM, CNBC, Tulsa International Airport, American, JetBlue Airways, Spirit Airlines Locations: TULSA, Okla, Tulsa , Oklahoma, Tulsa, American's, Riga, Latvia

☆ GE halves LEAP engine delivery growth target for 2024
▼ + stars: | 2023-10-24 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

In an interview, CEO Larry Culp said the company is aiming for a 20% to 25% year-on-year increase in the engine deliveries in 2024, lower than a revised 40% to 45% annual growth this year. Still, hitting the target will not be easy as it requires quarter-on-quarter improvements in the supply chain, he said. LEAP engines, which GE produces in a joint venture with France's Safran (SAF.PA), power the narrowbody aircraft of Boeing Co (BA.N) and Airbus (AIR.PA). It forced GE to trim the delivery growth target for LEAP engines this year by at least 5 percentage points and push out some of the deliveries into 2024 and 2025. But the demand for both aftermarket services and new engine deliveries is so strong that GE and its suppliers need to do more, Culp said.

Persons: Larry Culp mingles, Alwyn Scott, Larry Culp, France's Safran, delinquencies, Pratt, Culp, airframers, " Culp, Rajesh Kumar Singh, Jonathan Oatis Organizations: Electric Co, REUTERS, Rights, General, Reuters, GE, Boeing Co, Airbus, Boeing, Thomson Locations: Tarrytown , New York, U.S

☆ Jet engine maker CFM says suspect parts reached its own repair shops
▼ + stars: | 2023-10-05 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

"CFM is reviewing the documentation turned over by AOG Technics as part of our effort to determine the full extent of their sale of parts with fraudulent documentation," CFM said. AOG Technics could not be reached for comment. The CFM56 is the most sold jet engine in history and was developed by a transatlantic venture that turns 50 next year. The findings cover thousands of parts for the CFM56 engine as well as hundreds of parts for GE's CF6 engines, used mainly on commercial freighters. CFM56 engines entered service in 1982 and power the previous generation of Boeing (BA.N) 737s and about half the previous generation of Airbus (AIR.PA) A320s.

Persons: Philippe Wojazer, France's Safran, AOG Technics, Jose Zamora Yrala, CFM's, Tim Hepher, Bill Berkrot, Deepa Babington Organizations: REUTERS, Rights, Jet, CFM, GE Aerospace, AOG, CFM Materials, Boeing, Airbus, Thomson Locations: Reau, Paris, France, London

☆ Jet engine maker CFM says suspect parts found in its own repair shops
▼ + stars: | 2023-10-04 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

"CFM is reviewing the documentation turned over by AOG Technics as part of our effort to determine the full extent of their sale of parts with fraudulent documentation," CFM said. AOG Technics could not be reached for comment. CFM56 engines are repaired through third-party networks or at maintenance, repair and overhaul (MRO) facilities operated by CFM itself. The company said it had found four cases where parts from AOG entered its own facilities, impacting 16 engines. CFM said its more recent LEAP engine, used on the Boeing 737 MAX and some Airbus A320neo jets, was not affected.

Persons: Benoit Tessier, France's Safran, AOG Technics, Jose Zamora Yrala, CFM's, AOG, Tim Hepher, Chris Reese, Bill Berkrot Organizations: GE Aerospace, International Paris Air, Le, REUTERS, Rights, Jet, CFM, AOG, CFM Materials, Boeing, Airbus, Thomson Locations: Le Bourget, Paris, France, AOG

GE's aerospace unit, which makes engines for jets of Boeing Co (BA.N) and Airbus (AIR.PA), posted double-digit growth in orders, revenue, and operating profit from a year earlier. Its services revenue was up 31% in the second quarter from a year ago. The Boston-based company now expects 2023 adjusted profit per share of $2.10 to $2.30, compared with its previous forecast of $1.70 to $2.00. Free cash flow for the year is estimated to be in a range of $4.1 billion to $4.6 billion, up from $3.6 billion to $4.2 billion expected previously. GE said operating profit at its aerospace business was now expected to be in a range of $5.6 billion to $5.9 billion this year, up from $5.3 billion to $5.7 billion estimated earlier.

Persons: Larry Culp, France's Safran, Culp, Rajesh Kumar Singh, Kirsten Donovan, Mark Potter, Louise Heavens Organizations: General Electric Co, Boeing Co, Airbus, Boeing, GE, Thomson Locations: Boston, Chicago, Bengaluru

The deal to buy Collins' actuation and flights controls business marks the French engine and aircraft equipment maker's biggest acquisition since the 2018 purchase of seat maker Zodiac. "We are going to move towards more electrical actuation and flight controls," Safran's Chief Executive Officer Olivier Andries said. Collins Aerospace, part of U.S. aerospace and defence giant Raytheon Technologies, recently renamed RTX (RTX.N), said the sale would "optimize resources". Safran said its all-cash offer gave the business it is acquiring an enterprise value of $1.8 billion. Safran said Collins would remain a key customer for the business as a manufacturer of nacelles or engine housings for jetliners, making up 25% of the acquired activity's revenues.

Persons: France's Safran, SAF.PA, Collins, Olivier Andries, Safran, Andries, Pascal Bantegnie, Augustin Turpin, Tim Hepher, Jan Harvey, Jane Merriman, Elaine Hardcastle Organizations: Collins Aerospace, Raytheon Technologies, Airbus, Boeing, French Rafale, Parker Aerospace, Thomson Locations: U.S, Paris, American, Eaton, United States, Europe

☆ NTSB probes Boeing 737 MAX engine fire at Newark Airport
▼ + stars: | 2023-07-07 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

WASHINGTON, July 7 (Reuters) - The U.S. National Transportation Safety Board said on Friday it is investigating an engine fire that occurred last week on a Boeing (BA.N) 737-900 MAX plane operated by United Airlines (UAL.O) at Newark Liberty International Airport in New Jersey. Passengers exited from the plane in a normal fashion in Newark, according to the Federal Aviation Administration. The FAA said the plane landed after the flight crew activated the engine fire extinguishers as a precaution. Boeing referred questions to the NTSB and United. The engine was built by French-American jet engine maker CFM International, which is co-owned by General Electric (GE.N) and France's Safran (SAF.PA).

Persons: France's Safran, Safran, Kanishka Singh, David Shepardson, Will Dunham, Leslie Adler Organizations: U.S . National Transportation Safety, Boeing, United Airlines, Newark Liberty International, NTSB, Passengers, Federal Aviation Administration, FAA, United, CFM International, General Electric, GE, Thomson Locations: New Jersey, Fort Lauderdale , Florida, Newark, Washington

☆ US NTSB probes Boeing 737 MAX engine fire at Newark Airport
▼ + stars: | 2023-07-07 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

WASHINGTON, July 7 (Reuters) - The U.S. National Transportation Safety Board said on Friday it is investigating an engine fire last week on a Boeing (BA.N) 737-900 MAX plane operated by United Airlines (UAL.O) at Newark Liberty International Airport in New Jersey. The NTSB said a fire warning light indicator came on after United Airlines Flight 2376 from Fort Lauderdale, Florida landed at Newark on June 28, prompting the crew shut down one of the engines. Passengers exited from the plane in a normal fashion in Newark, according to the Federal Aviation Administration. The FAA said the plane landed after the flight crew activated the engine fire extinguishers as a precaution. Boeing referred questions to the NTSB and United.

Persons: France's Safran, Kanishka Singh, David Shepardson, Will Dunham, Leslie Adler anda Kim Coghill Organizations: U.S . National Transportation Safety, Boeing, United Airlines, Newark Liberty International, NTSB, Passengers, Federal Aviation Administration, FAA, United, CFM International, General Electric, CFM, Thomson Locations: New Jersey, Fort Lauderdale , Florida, Newark, Washington

☆ GE says all options on the table over engine for stretched A220
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 19 (Reuters) - GE (GE.N) Chairman and GE Aerospace CEO Larry Culp said on Monday all options were on the table, when asked whether the company would be interested in investing in a new engine for a potential larger version of the Airbus (AIR.PA) A220 jet. "I don't think we would rule anything in or rule anything out," he said at the Paris Airshow. GE co-owns engine maker CFM International with France's Safran (SAF.PA). The A220 is currently powered solely by engines from CFM competitor Pratt & Whitney (RTX.N). Reporting by Tim Hepher Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Larry Culp, France's Safran, Tim Hepher, Mark Potter Organizations: GE, GE Aerospace, Airbus, Paris Airshow, CFM, Pratt & Whitney, Thomson

☆ French company Safran keeps 2023 outlook as Q1 sales rise
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 26 (Reuters) - France's Safran (SAF.PA) kept its 2023 financial outlook unchanged as it reported sharp growth in quarterly revenues, buoyed by a swift recovery in air traffic demand. Safran, which provides engines for Boeing (BA.N) and Airbus (AIR.PA) narrow-body jets through its CFM International joint venture with General Electric (GE.N), said first-quarter revenues rose 24.7% on an organic basis to 5.266 billion euros ($5.78 billion). Core propulsion revenues rose by 34.9%, on an organic basis, to 2.714 billion euros, the company said on Wednesday. Safran reaffirmed its 2023 full-year financial outlook, namely for revenues of at least 23 billion euros, recurring operating income of around 3 billion euros and a free cash flow of at least 2.5 billion euros. The engine industry and other parts of the aerospace supply chain have, however, been hit by labour and parts shortages.

☆ GE working to address durability issues with LEAP jet engines, says company exec
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

CINCINNATI, Ohio March 9 (Reuters) - General Electric Co (GE.N) is working on addressing issues with the durability of its LEAP jet engines and changes will be rolled out next year, Karl Sheldon, a senior executive at the company's aerospace unit, said on Thursday. The problems with LEAP engines, which power Airbus (AIR.PA) and Boeing (BA.N) jets, is occurring in regions like the Middle-East. Sheldon said changes are being made to the engine's turbine blades and nozzles, which are getting affected by hot and harsh conditions. "Hotter engines running in hotter environment is driving this issue," he said on the sidelines of GE's investor conference. Reporting by Rajesh Kumar Singh in Cincinnati, Ohio; Editing by Leslie Adler and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

A jump in air travel demand has driven up sales at its aerospace division, which makes and services engines for Boeing Co (BA.N) and Airbus SE (AIR.PA) jets. GE also reiterated its profit outlook for 2023 as booming demand in its aerospace business is expected to make up for the challenges in its renewable energy business. It expects adjusted earnings of $1.60 to $2.00 per share in 2023, with revenue growth percentage in high single digits. GE estimated that the aerospace business would generate double-digit revenue growth this year, translating into an operating profit of $5.3 billion-$5.7 billion. However, supply and labor shortages have hurt jet engine output, with CEO Culp saying it was a daily battle to meet jet engine demand.

☆ France's Safran to pay $17.2 mln to settle China bribery charges in U.S. probe
▼ + stars: | 2022-12-23 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +1 min

Dec 23 (Reuters) - French jet engine maker Safran SA (SAF.PA) will pay about $17.2 million as part of a settlement with the U.S. Justice Department over bribes its subsidiaries allegedly paid in China, the Department of Justice (DoJ) said in a statement made public on Friday. The Paris-based aerospace supplier will be required to turn over profits from "corruptly obtained" and retained contracts by its U.S.-based subsidiary, Monogram Systems, the DoJ said. Monogram and Safran's German unit, Evac GmbH, allegedly paid bribes to obtain "lucrative" train lavatory contracts with the Chinese government. Safran did not immediately respond to Reuters request for a comment. Reporting by Priyamvada C in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus urges European leaders to refrain from Russian titanium sanctions
▼ + stars: | 2022-04-12 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

The logo of Airbus is picuted at the Airbus facility in Montoir-de-Bretagne near Saint-Nazaire, France, March 4, 2022. "Sanctions on Russian titanium would hardly harm Russia, because they only account for a small part of export revenues there. In March, Airbus said it "is directly sourcing titanium from Russia as well as from other countries" and indirectly acquiring Russian titanium via suppliers. On Tuesday, it reaffirmed this in answer to a Reuters query but declined to say when it had last received Russian titanium. Last month, Boeing said it had suspended buying Russian titanium.

Boeing's production plans shift and are influenced by many factors, the people cautioned. Suppliers are grappling with labor and materials shortages and weakened balance sheets following the overlapping pandemic and 737 MAX safety grounding crises. Boeing said in late January it was working to clear an inventory of 335 737 MAX airplanes amassed following two fatal crashes of the jet that grounded the plane for 20 months. Boeing declined to comment on its production plans and referred to its last public statements. A rate of 47 aircraft per month is five shy of its build rate in 2019, when the 737 MAX was grounded.

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