French engine manufacturer Safran and Airbus agree on A320 engine production rates for 2024

French engine manufacturer Safran had agreed a deal with Airbus on quantities for 2024. Speaking to Reuters on April 29, 2022, Safran’s chief executive officer Olivier Andries confirmed that both parties have reached an agreement regarding Airbus A320 family jets for 2024, indicating that the French entity will ramp up engine production rates.

However, Andries did not give a figure for the number of engines it had agreed to build.

The French aerospace-industry supplier also announced its financial results for Q1 2022 and provided an outlook for the full year. Although Safran suspended all exports and services to Russia, the company managed to reach an adjusted revenue of €4,071 million, an increase of 21.8% when compared to the same period in 2021, according to the company’s most recent financial report.

Safran also announced that it expects to increase yearly revenue to between €18-18.2 billion for FY 2022.

Before the international community placed sanctions on Russia due to its military action in Ukraine, Safran exported its production and provide services to its partner companies in Russia.

According to the manufacturer, commercial activity in the Russian market included engine and equipment supplies for aircraft programs such as the regional Sukhoi Superjet 100, the single-aisle airliner MC-21, as well as a Russian helicopters Kamov 62 and Kamov 226. The engine maker also provided CFM engine services for around 500 Airbus A320 and Boeing 737 aircraft operated by various Russian carriers.