July 17, 2019 / 3:35 PM / a month ago

Safran loses last Silvercrest client as Cessna drops engine

PARIS (Reuters) - Aircraft maker Cessna has canceled its supply contract for Safran’s troubled Silvercrest jet turbines after freezing its Hemisphere aircraft program, the French engine maker said on Wednesday.

The withdrawal of Textron-owned Cessna now leaves the engine without any active orders, but Safran said its development as a “research and technology platform” would continue.

The contract termination has “no financial impact for either party”, Safran said in a statement. It nonetheless deals a new setback to the Silvercrest engine in the wake of technical problems that forced another client, Dassault Aviation, to scrap a planned Falcon 5X jet in 2017.

A 325-plane order from Warren Buffett’s NetJets leasing firm - including up to 150 Hemispheres - had revived hopes for the Silvercrest engine last October.

“We will keep Textron informed of the engine’s progress so that it can reevaluate the situation,” its statement said.

Reporting by Cyril Altmeyer; Writing by Laurence Frost; editing by David Evans

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