Aircastle shares dip with dividend announcement, GKN and Safran also down – Suppliers Share Wrap

Shares in Frence aerospace and engine supplier Safran fell 1.1% yesterday, despite a bullish assessment of market conditions from CEO, Jean-Paul Herteman. The CEO expects orders for the CFM56 engine, produced in a JV with General Electric, to reach a record 1900-2000 this year.

Other engine makers fared better in trading, with Rolls-Royce up 2.1% and MTU Aero Engines gaining 2.9%. Shares in MTU have gained more than 20% over the past three weeks.

Shares in GKN Aerospace fell 1.1%, ending a week-long positive run.

Aircastle shares dipped 2.9%. The company declared a 4Q2010 cash dividend on its common shares of USD0.10 per share.

Selected Original Equipment Manufacturers daily share price movements (% change): 03-Dec-2010

Selected Aviation Suppliers & Leasing daily share price movements (% change): 03-Dec-2010