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| Safran LEAP engine |
Safran LEAP engine deliveries increased in the first half as production accelerated. As a result, Safran LEAP engine deliveries reached 729 units, up 10pc year on year. Meanwhile, the narrowbody market kept demand firm across Boeing 737 MAX and Airbus A320neo programs.
Production acceleration lifts Safran LEAP engine deliveries
Safran boosted output in the second quarter to support airlines and MRO partners. Q2 production rose 29pc versus Q1 and 38pc year on year. Therefore, the delivery cadence improved despite supply chain pressures in castings and forgings.
Aftermarket strength and airline orders support momentum
Safran reported stronger spare parts demand across LEAP and legacy CFM56 fleets. Notably, Ryanair ordered 30 LEAP-1B spare engines to support its 737 MAX fleet. Consequently, aftermarket revenue provided an additional tailwind to first-half results.
Safran broadened volumes beyond LEAP with high-thrust engines. First-half high-thrust deliveries rose to 107 units, up from 91 a year ago. However, M88 military engines slipped to 10, while CFM56 deliveries eased to 26.
The group posted solid top-line growth alongside delivery gains. First-half adjusted revenue reached €14.8bn, up 13.2pc year on year. In addition, second-quarter revenue edged up to €7.5bn from €7.3bn in Q1.
The Metalnomist Commentary
Airline network rebuilds and sustained A320neo and 737 MAX demand continue to anchor LEAP volumes. We expect LEAP spares and shop visits to lead margin mix while OEM output normalizes. Watch castings, combustor hardware, and rotor parts as pacing items for further rate increases.
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