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    SAF   FR0000073272

SAFRAN

(SAF)
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CFM International, Saudi Arabian Airlines Agreed on $8.5 Billion Deal, at List Price

12/06/2021 | 02:02am EST

By Olivia Bugault

CFM International, the 50/50 joint venture between jet engine makers Safran SA and General Electric Co., said Saturday that it signed an agreement with Saudi Arabian Airlines Corp. for an order valued at roughly $8.5 billion, at list price.

Saudi Arabia's flag carrier ordered LEAP-1A engines that will be used to power its new fleet of 35 Airbus SE A321neo jets and 30 A320neo planes, CFM International said. The agreement comprises the purchase of 149 LEAP engines, including spares, as well as a multi-year services agreement, it said.

"This agreement also includes a rate-per-flight-hour services contract to cover engines from this new order as well as an additional 20 leased A320neo aircraft," it said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

12-06-21 0202ET

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL ELECTRIC COMPANY 0.68% 103.16 Delayed Quote.9.20%
SAFRAN -0.21% 112.56 Real-time Quote.4.77%
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Analyst Recommendations on SAFRAN
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Financials
Sales 2021 15 502 M 17 672 M 17 672 M
Net income 2021 1 000 M 1 140 M 1 140 M
Net Debt 2021 1 657 M 1 889 M 1 889 M
P/E ratio 2021 48,0x
Yield 2021 0,85%
Capitalization 47 980 M 54 734 M 54 697 M
EV / Sales 2021 3,20x
EV / Sales 2022 2,63x
Nbr of Employees 78 900
Free-Float -
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Safran Technical Analysis Chart | SAF | FR0000073272 | MarketScreener
Technical analysis trends SAFRAN
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 112,56 €
Average target price 131,69 €
Spread / Average Target 17,0%
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Managers and Directors
Olivier Andriès Chief Executive Officer & Director
Pascal Joel Jacky Bantegnie Chief Financial Officer
Ross McInnes Chairman
Frédéric Verger Executive VP, Chief Digital & Information Officer
Eric Dalbies Senior VP-Research, Technology & Innovation
Sector and Competitors