Latest news with #CFM
France 24
9 hours ago
- Business
- France 24
Airbus first-half profit climbs 85% to $1.7 bn
Citing "persistent engine supply issues" for its popular A320 jets, Airbus said 306 planes had been delivered overall in the first half, down from 323 in the first half of 2024. It said it secured net orders for 402 aircraft in the first half, up from 310 in the same period last year, helping to push revenues up three percent to 29.6 billion euros. The jump in profits to 1.5 billion euros came a year after Airbus reported a 46-percent slump in earnings for the first half of 2024. Operating profit, which analysts often consider a better gauge of underlying business performance, rose 11 percent to 1.6 billion euros. Looking ahead, Airbus said its targets did not exclude the potential impact from the US tariffs being imposed by President Donald Trump, and it still expected to deliver 820 commercial aircraft this year. "On tariffs, the recent political agreement between the EU and the US to revert to a zero-tariff approach for civil aircraft is a welcome development for our industry," chief executive Guillaume Faury said in a statement. At the end of last month, 60 planes were still waiting to receive their engines from CFM, a joint venture between the Safran and GE groups, as well as Pratt & Whitney engines, Airbus CEO Guillaume Faury said in a press conference call. — No engines, toilets — "In terms of aircraft production and availability, with the exception of the engines for these aircraft, we are actually much further ahead than 306 aircraft at the current stage," said Faury, expressing confidence in meeting the 820 delivery forecast. "We have a credible second-half plan," he added, recalling that in 2018, Airbus delivered 303 planes in the first half but hit 800 for the year as a whole. Airbus's director of commercial aircraft, Christian Scherer, said in June that other aircraft, particularly the wide-body A350, were suffering a backlog due to a toilet shortage. "You can't really build an airplane without a toilet," he quipped ahead of the Paris Air Show, highlighting the fragile state of the sector's supply chain, where a small bottleneck can put at risk ambitious commercial programmes. A year ago, Airbus's half-year net profit plummeted 46 percent due to expenses related to space activities. Responding to a drop in demand for telecommunications satellites, which hit its financial performance, Airbus in October announced 2,500 job cuts in its defence and space division, a figure it revised downwards in December to 2,043. Trying to beat Boeing The company's forecast for 2025 remained unchanged as it said it was targeting adjusted operating profit "of approximately 7 billion euros." Airbus said it had already felt the "impact" of 10-percent tariffs in effect since April and was "reassured, but cautious" after the agreement announced Sunday between the United States and the European Union reestablishing a zero-tariff regime for aeronautics. Asked whether President Donald Trump's support for Boeing, its main competitor, could disadvantage Airbus, Faury said: "Knowing that Boeing benefits from this extremely powerful political support, it forces us to be even better." The US behemoth, which has suffered several crises, is now "in a stabilisation phase", according to its CEO, Kelly Ortberg, and reported better-than-expected results on Tuesday.
Int'l Business Times
9 hours ago
- Business
- Int'l Business Times
Airbus First-half Profit Climbs 85% To $1.7 Bn
European aerospace group Airbus posted an 85-percent rise in first-half profit Wednesday to $1.7 billion, even though it delivered fewer commercial planes compared with the same period last year. Citing "persistent engine supply issues" for its popular A320 jets, Airbus said 306 planes had been delivered overall in the first half, down from 323 in the first half of 2024. It said it secured net orders for 402 aircraft in the first half, up from 310 in the same period last year, helping to push revenues up three percent to 29.6 billion euros. The jump in profits to 1.5 billion euros came a year after Airbus reported a 46-percent slump in earnings for the first half of 2024. Operating profit, which analysts often consider a better gauge of underlying business performance, rose 11 percent to 1.6 billion euros. Looking ahead, Airbus said its targets did not exclude the potential impact from the US tariffs being imposed by President Donald Trump, and it still expected to deliver 820 commercial aircraft this year. "On tariffs, the recent political agreement between the EU and the US to revert to a zero-tariff approach for civil aircraft is a welcome development for our industry," chief executive Guillaume Faury said in a statement. At the end of last month, 60 planes were still waiting to receive their engines from CFM, a joint venture between the Safran and GE groups, as well as Pratt & Whitney engines, Airbus CEO Guillaume Faury said in a press conference call. "In terms of aircraft production and availability, with the exception of the engines for these aircraft, we are actually much further ahead than 306 aircraft at the current stage," said Faury, expressing confidence in meeting the 820 delivery forecast. "We have a credible second-half plan," he added, recalling that in 2018, Airbus delivered 303 planes in the first half but hit 800 for the year as a whole. Airbus's director of commercial aircraft, Christian Scherer, said in June that other aircraft, particularly the wide-body A350, were suffering a backlog due to a toilet shortage. "You can't really build an airplane without a toilet," he quipped ahead of the Paris Air Show, highlighting the fragile state of the sector's supply chain, where a small bottleneck can put at risk ambitious commercial programmes. A year ago, Airbus's half-year net profit plummeted 46 percent due to expenses related to space activities. Responding to a drop in demand for telecommunications satellites, which hit its financial performance, Airbus in October announced 2,500 job cuts in its defence and space division, a figure it revised downwards in December to 2,043. The company's forecast for 2025 remained unchanged as it said it was targeting adjusted operating profit "of approximately 7 billion euros." Airbus said it had already felt the "impact" of 10-percent tariffs in effect since April and was "reassured, but cautious" after the agreement announced Sunday between the United States and the European Union reestablishing a zero-tariff regime for aeronautics. Asked whether President Donald Trump's support for Boeing, its main competitor, could disadvantage Airbus, Faury said: "Knowing that Boeing benefits from this extremely powerful political support, it forces us to be even better." The US behemoth, which has suffered several crises, is now "in a stabilisation phase", according to its CEO, Kelly Ortberg, and reported better-than-expected results on Tuesday.
Yahoo
23-07-2025
- Business
- Yahoo
EU and France invest €145m to improve Mozambique's rail infrastructure
Mozambique's rail network is poised for a significant upgrade with the signing of three financing agreements between state-owned railway company Portos e Caminhos de Ferro de Moçambique (CFM) and the Agence Française de Développement (AFD) for an investment of €145m (169m). The investment combines two non-sovereign loans from AFD, totalling $133m and a €30m ($35m) grant from the European Union. The funding will be used towards the planned enhancement of the Maputo–Ressano Garcia railway line, a vital link for passenger and freight transport in southern Mozambique. The project includes the doubling of the line's final section and an upgrade of its signalling system. The modernisation of the signalling system is set to improve safety and operational efficiency across the corridor. This development is expected to bolster rail traffic capacity and encourage a shift from road to rail transport. The project also aims to contribute to Mozambique's climate goals by reducing greenhouse gas emissions by an estimated 30,000 tonnes of CO₂ equivalent annually. CFM chairman Agostinho Langa Júnior said: 'CFM requested this funding to respond to what is outlined in its Strategic Plan, which aims to execute a number of projects, including the doubling as well as the modernisation of the signalling system of the Ressano Garcia line, the acquisition of rolling stock, improve urban mobility etc. so as to better contribute to the economic development of Mozambique, as well as full regional integration.' The financial support from the AFD and the EU will facilitate the expansion of the Ressano Garcia Line's throughput, boosting it from the existing 14.9 million tonnes per year to 44.6 million tonnes per year once the second phase of the project is finished. The next phase of the project involves the recruitment of consulting firms for design, supervision, and project management. The construction phase is on track for completion by 2030. Head of Cooperation of the EU Delegation to Mozambique Paula Vazquez-Horyaans said: 'This strategic investment reflects the European Union's commitment under the Global Gateway strategy to promote smart, clean and secure transport corridors that drive regional integration and economic development. 'By supporting the doubling of the Maputo–Ressano Garcia railway and upgrading its signalling system, we are helping shift freight from road to rail, thus enhancing safety, reducing emissions, and reinforcing Mozambique's role as a key logistics hub in Southern Africa.' "EU and France invest €145m to improve Mozambique's rail infrastructure" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
21-07-2025
- Automotive
- Yahoo
Who Builds Boeing's Jet Engines, And Are They The Same As Airbus Uses?
American aerospace giant Boeing has taken a bit of tarnish of late. A pair of deadly crashes and other lesser malfunctions have sullied the reputations of the latest iterations of the brand's 737 Max aircraft, but those concerns don't extend to the jets' powerful engines. Boeing is responsible for building the 737's iconic flat-bottomed nacelles, or casings, which house the engines. However, the turbofan powerplants themselves are farmed out to various global manufacturers. The world's largest producer of jet engines, including for Boeing, is a joint venture called CFM. The two entities behind CFM are General Electric and the French manufacturer Safran. As part of its 39% global market share, CFM's fuel-efficient Leading Edge Aviation Propulsion (LEAP) engines power every one of Boeing's 737 Max aircraft. Coincidentally, engines from this brand can also be found on some Airbus A320 jets, a competitor to the 737 that's assembled largely in Europe. Of course, Boeing doesn't just build the 737. Other commercial Boeing jets include the venerable widebody 777 and the high-tech 787 Dreamliner, both of which are staples of long-haul or high-capacity routes, such as between the United States and Europe. And the engines there are made by others. Read more: Nobody Does Land Yachts Like Cadillac, And These Are Five Of The Best Ones Rolls-Royce Doesn't Only Build Cars Before Rolls-Royce started selling bougie land yachts, it was known for its airplane engines. For example, its Merlin engine was a force to be reckoned with in fighter planes during World War II. Over 120 years since its inception, Rolls-Royce is still in the aeronautical sector with a 12% market share. In particular, its products can be found in many long-haul widebody jets. Rolls' Trent 1000 powers some Boeing 787 Dreamliner jets, and Rolls says the plane is 25% more fuel-efficient than its predecessor, the Boeing 767. Rolls-Royce engines also propel some examples of the widebody Boeing 777, the fuel-guzzling double-decker 747, and what remains of the largest single-aisle jet ever, the Boeing 757. Like CFM, Rolls-Royce prefers to diversity its clientele and happily accepts engine purchases from Airbus, too — for example, the Airbus A330 and A350 long-haul jets. Next up is General Electric, which also has a fairly small — about 14% — share of worldwide jet engine manufacturing. That's understandable, since most of its involvement in aerospace is via the CFM joint venture with Safran. Alone, GE turbofan engines appear on both Boeing and Airbus products in small quantities. Especially the Boeing double-aisle widebodies. An American Company Hit Big With EU's Airbus (But Sells To Boeing, Too) Finally, we come to Pratt & Whitney, a veritable institution in American aviation since 1917. When it's not building engines for fighter jets or cruise missiles, P&W captures about 35% of the market for commercial jet engines. That includes a presence at some level in nearly all Boeing products, excepting newer models like the 737 Max and 787 Dreamliner. P&W sells to Airbus, too. Notably, its engines are the only ones used in the new-ish A220 narrow-body jet, a feather in the company's cap to be sure. So there you have it. Boeing uses four sources to procure jet engines for its planes: CFM, General Electric, Pratt & Whitney, and Rolls-Royce. And not a single one of those companies has a problem crossing the aisle to sell to rival manufacturer Airbus. Clearly, some passengers prefer one aircraft brand or another — for example, avoiding airlines with the largest Boeing fleets following an awful 2024 for the brand. However, under the engine nacelles, there's little difference to be had between the two aircraft giants. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Business Recorder
16-07-2025
- Business
- Business Recorder
Dar meets Xi, conveys ‘warm greetings'
ISLAMABAD: Pakistan's Deputy Prime Minister/Foreign Minister Ishaq Dar called on Chinese President Xi Jinping on Tuesday as he represented Pakistan at the joint call of the Foreign Ministers of the Shanghai Cooperation Organization (SCO) Member States. Dar arrived at the Great Hall of the People for the SCO Foreign Ministers' Group Meeting with President Xi Jinping of the People's Republic of China, Foreign Office (FO) spokesperson said in a statement. Dar in a statement on social media said that he was delighted to meet earlier Tuesday President Xi Jinping at the Great Hall of the People in Beijing. 'Conveyed the warm greetings of the leadership, government and people of Pakistan. As iron-clad brothers and All-Weather Strategic Cooperative Partners, we remain committed to deepening Pak-China enduring friendship and advancing shared regional goals,' he remarked. The Chinese president, welcoming the Heads of Delegations, underlined the 'salience of regional cooperation' under the ambit of SCO, an organisation covering the Eurasian land mass and a large expanse of the world's population. Meanwhile, Dar held bilateral meetings with foreign ministers of SCO member states on sideline of CFM. He met with the Foreign Minister of Kyrgyzstan, Kulubaev Zheenbek Moldokanovic, at the Great Hall in Beijing on the margins of the SCO CFM. Both reaffirmed their commitment to the longstanding bilateral relationship and to enhancing collaboration across all areas of mutual interest. The deputy prime minister also signed SCO documents on behalf of Pakistan during the SCO Council of Foreign Ministers Meeting in Tianjin, China. Furthermore, Dar met with the Foreign Minister of Iran, Seyyed Abbas Araghchi on the sidelines of the SCO CFM in Tianjin, China. Both leaders reviewed bilateral cooperation across diverse areas and discussed the evolving regional situation following the recent Israeli aggression against Iran. Dar reaffirmed Pakistan's unwavering solidarity with the people and Government of Iran, and reiterated Pakistan's commitment to regional peace and stability, emphasising that dialogue and diplomacy remain the only viable path to de-escalation and lasting peace. At the invitation of Foreign Minister of China Wang Yi, the deputy prime minister is currently leading Pakistan delegation to the meeting of SCO Council of Foreign Ministers (CFM) being held on 14-16 July 2025 in Tianjin. Foreign Ministers of all SCO member States, including Pakistan, China, Belarus, India, Iran, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan are participating in the CFM meeting. Foreign Minister of Belarus has been attending the CFM for the first time as member of SCO. The CFM is the third highest forum in the SCO format. It focuses on the issues of international relations, as well as foreign and security policies of SCO. The forum approves the documents, including declaration and statements, etc. that are to be presented for the consideration of the Council of Heads of State (CHS) as well as the decisions to be adopted by the CHS. The upcoming CHS will take place on 31 August – 01 September 2025 in Tianjin, China. Copyright Business Recorder, 2025
