May 28, 2009
The drop in air travel caused by the economic crisis has begun to tail off in recent weeks, the head of one of the world’s largest engine makers said on Thursday.
“The last few weeks indicate that the drop in passenger traffic is slowing down,” Safran chief executive Jean-Paul Herteman told shareholders.
The French company is co-owner with General Electric of CFM International, the largest supplier of civil jet engines.
At a shareholder meeting, Herteman reaffirmed 2009 targets of a 5-6 percent operating margin and stable revenue at Safran.
(Reuters)