France's Safran raises forecasts amid air travel boom

Jet engine maker Safran raised profit and cashflow forecasts on Thursday after core income jumped in the first half, led by demand for spares and services as airlines boost flights to meet a recovery in travel demand. Recurring operating income rose 33% to E1.397b ($1.55b) and revenues rose 26% to 10.945b on a like-for-like basis in the first six months, the French aerospace supplier said. Safran generated almost E1.5b of free cashflow. The Paris-based group said it was now targeting full-year recurring operating income of E3.1b versus 3.0b previously. Deliveries of the current-generation LEAP engines, used on all Boeing 737 MAX jets and about half of Airbus’s A320neo fleet, rose 69% to 785 units.<br/>