PARIS, April 23 French aerospace group Safran
raised its sales forecast for 2013 on Tuesday after its
core propulsion business pushed first-quarter revenue up 9.5
percent to 3.4 billion euros.
Separately, Safran also said it was buying Rolls-Royce
Holdings' 50 percent stake in their RTM322 helicopter
engine programme for 293 million euros ($381.79 million).
Safran said 15 percent revenue growth in its propulsion
division stemmed from both new civil engine orders, a sign of
demand for fuel-saving jetliners, and spares: usually seen as an
economic barometer linked to the frequency of aircraft use.
Safran upped its forecast for full-year adjusted sales
growth to "around 7 percent" from 5 percent, according to a
press release issued in French. An English-language release
expressed the 2013 target as "mid-to-high single digits".
The upward revision reflects both first-quarter performance
and completion of a deal to buy Goodrich Electrical Power
Systems for 300 million euros, Safran said in a statement.
Safran, which co-owns CFM International, the world's largest
civil jet engine partnership, with General Electric, said
the civil aftermarket rose 10 percent in dollar terms.
CFM has a seven-year backlog of engines including orders and
commitments for over 4,500 next-generation LEAP engines. CFM is
the sole engine supplier on Boeing's 737 and competes with a
consortium led by Pratt & Whitney to power the Airbus A320.