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4-Traders Homepage  >  Equities  >  Euronext Paris  >  SAFRAN    SAF   FR0000073272

SAFRAN (SAF)

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SAFRAN : SAS SIGNS LOI FOR LONG-TERM LEAP SERVICES AGREEMENT

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06/21/2013 | 11:40am CET
12-year term valued at $180 million U.S.
LE BOURGET, France - 20 June 2013 - SAS today announced that it has signed a Letter of Intent with CFM International for the long-term support of its advanced LEAP-1A engines. In 2011, the airline selected the engine to power 30 firm Airbus A320neo aircraft and hold options on 11 additional airplanes.
Under the terms of the 12-year Rate Per Flight Hour Agreement (RPFH), valued at $180 million U.S., CFM will guarantee maintenance costs on a dollar per engine flight hour basis.
SAS, the multi-national carrier of Sweden, Norway and Denmark, operates scheduled flights to nearly 100destinations throughout Scandinavia, Europe, Asia, and the U.S. with a fleet of 140 aircraft. The SAS currently operates a fleet of nearly 100 CFM-powered aircraft and owns a total of nearly 200 CFM56 engines. As a major European airline, SAS has long been at the forefront of adopting technologies that reduce the impact of aviation on the environment, as well as choosing efficient engines to power its fleet.
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About CFM
LEAP engines are a product of CFM International is a 50/50 joint company between Snecma (Safran) and GE and the world's largest supplier of commercial aircraft engines. To date, more than 25,000 CFM56 engines have been delivered to more than 500 operators around the globe. This fleet has achieved more than 635 million flight hours as the most reliable engines in the air.
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Financials (€)
Sales 2016 17 325 M
EBIT 2016 2 461 M
Net income 2016 1 809 M
Debt 2016 942 M
Yield 2016 2,31%
P/E ratio 2016 16,09
P/E ratio 2017 16,77
EV / Sales 2016 1,66x
EV / Sales 2017 1,57x
Capitalization 27 749 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 67,0 €
Spread / Average Target 0,70%
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Managers
NameTitle
Philippe Petitcolin Chief Executive Officer & Director
Ross McInnes Chairman
Bernard-Pierre Jacques Delpit Chief Financial Officer
Jean-Marc Forneri Independent Director
Patrick Gandil Director
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