Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Home Headlines Safran CEO sees supply chain pressure through 2024
2023 09 22T081635Z 1 LYNXMPEJ8L08I RTROPTP 4 AIRCRAFT ENGINE FAKE PARTS Copy

Safran CEO sees supply chain pressure through 2024

by Uma Rajagopal
0 comments

Safran CEO sees supply chain pressure through 2024

PARIS (Reuters) -Global aerospace supply chains will remain under pressure throughout 2024, Safran CEO Olivier Andries said on Friday.

“We remain in a difficult situation with the supply chain. (The) problems are not solved and will broadly last throughout 2024,” he told the AJPAE French aerospace media association.

Safran co-produces with General Electric the widely used LEAP engine for medium-haul jetliners and is also one of the world’s largest suppliers of other aeronautical equipment.

Pressure is particularly severe on titanium and steel supplies, contributing to inflation in the sector, Andries added.

He also singled out castings and forgings but said a recent worldwide shortage of computer chips had eased considerably. He also noted difficulties in recruitment following a wave of early retirements during the pandemic.

Andries said supply chain shortages had complicated efforts to increase airliner production.

He told reporters CFM was “fully aligned” with manufacturers on production planes through the end of 2024 but was still discussing quantities of engine supplies for 2025.

CFM is the sole engine supplier for the Boeing 737 and has a 60% share of the backlog for the Airbus A320, for which airlines can choose between engines from CFM or Pratt & Whitney.

(Reporting by Tim Hepher; editing by Jan Harvey and Jason Neely)

 

Recent Post
Illustration of a woman with long black hair and wearing white round earrings. She is smiling and dressed in a red top, set against a light pink background.
Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.