Safran Q1 revenue up nearly 16%

Safran, which owns civil engine manufacturer CFM International, has posted a 15.9% increase in Q1 revenue bringing to total for the period to €3.1 billion ($4.1 billion). The growth was due to the strength of the jet engine aftermarket driven by the CFM56 and global CFMi spare parts revenue, which rose 24.2% for the quarter. Safran says that this was largely in line with the trends of 2011, which were up 1.3% from the 2011 fourth quarter, and driven by second-generation engines. The estimated total number of shop visits in the first quarter for civil aircraft equipped with the CFM56