Streetbeat News

SAFRY

Safran SA

https://www.safran-group.com/

CEO

Philippe Petitcolin

Industry

Small Arms Ammunition Manufacturing

Open

68.06

Mkt cap

114B

Volume

43K

High

68.73

P/E Ratio

64.65

52-wk high

72.00

Low

67.70

Div yield

0.01

52-wk low

51.02

Delta Air Lines has discovered unauthorized components in less than 1% of its over 2,100 jet engines. Other airlines, including American Airlines, United Airlines, and Southwest Airlines, have also reported finding fake parts associated with AOG Technics Ltd. This London-based firm is under investigation over the spare parts it provided for a jet engine model produced by CFM International, a collaboration between General Electric and Safran SA. Delta confirmed that none of its aircraft are currently flying with unapproved parts.

Portfolio Pulse from Shivani Kumaresan

October 03, 2023 | 1:32 pm

The U.S. Federal Aviation Administration (FAA) has raised concerns over the potential presence of unauthorized components in General Electric Company's (NYSE:GE) model CF6 jet engines. The FAA has advised aircraft owners to perform inspections to identify these components. The unauthorized parts were allegedly sold by U.K.-based company, AOG Technics, without the requisite FAA approvals. CFM International, a jet engine manufacturer, reported that AOG Technics might have distributed thousands of engine components with forged documentation. GE shares closed lower by 1.62% at $112.99 on Thursday.

Portfolio Pulse from Shivani Kumaresan

September 22, 2023 | 1:06 pm

French aerospace company Safran (OTC:SAFRY) is set to acquire an aerospace business from RTX Corp (NYSE:RTX) for $1.8 billion. The business, part of Collins Aerospace, provides actuation and flight control systems. The deal is expected to boost Safran's control in critical flight control and actuation functions, and have an accretive impact on earnings per share from year one. The deal is expected to close in H2 2024.

Portfolio Pulse from Shivani Kumaresan

July 21, 2023 | 11:42 am

Safran has acquired Collins Aerospace's Actuation and Flight Control business, a subsidiary of RTX, for $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 7:43 am

Safran SA is close to acquiring Raytheon Technologies Corp's flight control unit for approximately $1.8 billion. The deal will relieve Raytheon of a low-margin business and strengthen Safran's position in flight controls against competitors.

Portfolio Pulse from Akanksha Bakshi

June 14, 2023 | 4:08 pm

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