Safran handed over 10% more CFM International Leap engines in the first half, a total of 729, as sequential quarterly production rates improved.
The deliveries contributed to a near-17% rise in first-half propulsion revenues to €7.5 billion ($8.6 billion).
Safran handed over 410 Leap engines in the second quarter, up nearly 30% on the 319 in the first.
Chief executive Olivier Andries, speaking during a half-year briefing on 31 July, said the company had seen “some improvements” in the supply chain “for first time in a long time”.
It is forecasting a 15-20% increase in total Leap deliveries across the full year, which would indicate a figure of 1,618-1,688. Leap output dipped last year but the estimate for 2025 would exceed the company’s 2023 performance.
The Leap is fitted to the Airbus A320neo family as well as the Boeing 737 Max and the Chinese-built Comac C919.
Airbus has been dealing with a shortage of Leap-1A powerplants, revealing that it had 60 aircraft parked awaiting engines as of 30 June – most of which were missing Leaps.
While its original equipment sales were up nearly 10% in the first half, the Safran propulsion division’s revenues also benefited from a 21% rise in aftermarket sales.
Safran says a “positive momentum” recorded in the first quarter “persisted throughout the first half”, with spares revenues and services for civil engines each rising more than 21% – driven by CFM56 requirements, an elevated Leap spare-engine ratio, and profit recognition on Leap-1A rate-per-flight-hour contracts.
Chief financial officer Pascal Bantegnie says the “trigger point” for recognising profit margins on Leap-1B contracts will occur in the first half of 2026, when the so-called “maverick blade”, an improved high-pressure turbine blade for the engine is introduced.
Recurring operating income for the division increased by 37% to €1.76 billion.
Safran states that “robust” civil engine aftermarket activity has helped the company to achieve “unprecedented” cash generation over the first half and a strong operating margin – prompting the company to raise full-year guidance.
