Safran reports Chinese plants now fully operations, European sites gradually restarting

Safran reported (26-Mar-2020) its Chinese plants are already fully operational and European sites are gradually restarting. The company also reported the actions it has implemented since Dec-2019 in response to Boeing's decision to shut down the 737 MAX assembly line are now enhanced. The company is also implementing "very significant measures" are implemented such as a pause in capital expenditure, the definition of new objectives for R&D and a reduction of direct and indirect costs. Safran will also use all schemes set up by governments, particularly short time working. [more - original PR]