April 29, 2020 / 4:01 PM / a month ago

Safran revenues fell 8.8% in Q1, claims sufficient liquidity

PARIS, April 29 (Reuters) - France’s Safran reported an 8.8% drop in like-for-like first-quarter revenue as the coronavirus crisis began to weigh on its aircraft engines and interiors activity.

The world’s third-largest aerospace supplier said the month of March, when lockdowns were first implemented in Europe to halt the spread of the disease, saw a 20.4% drop after a slight decrease in the first two months in line with earlier forecasts.

Safran said it had “sufficient liquidity” with 3.2 billion euros of cash and cash equivalents liquidity on March 31. (Reporting by Tim Hepher; Editing by Hugh Lawson)

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