French Aerospace Firm Safran Bags $1.2B Worth Contracts From Emirates
Portfolio Pulse from Shivani Kumaresan
Safran (OTC:SAFRY) has secured contracts worth over $1.2 billion from Emirates, including a $1 billion deal for Safran Seats for Emirates' new A350, 777X-9, and existing 777-300 aircraft. The contracts also involve Safran Cabin providing Galley shipsets and Safran Landing Systems supplying wheels and carbon brakes for the A350 fleet. Additionally, a 10-year service agreement with Safran Aerosystems for 777 safety and cabin systems components repair and maintenance is included. Safran's stock price increased by 2.77% to $42.63.
November 14, 2023 | 6:38 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Safran has won contracts worth $1.2 billion from Emirates, including a major deal for aircraft seats and a 10-year service agreement, indicating strong revenue prospects and continued partnership.
The significant contract win from Emirates is likely to boost investor confidence in Safran's revenue growth and market position, leading to a positive short-term impact on SAFRY's stock price, as reflected in the 2.77% increase.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100