Boeing engine maker Safran posts strong sales but sees supply chain risks

Safran reaffirmed its 2023 full-year forecasts for revenues of at least €23bn, recurring operating income around €3bn and free cashflow of at least €2.5bn.

Air traffic is rebounding strongly following the pandemic, with key medium-haul or domestic markets already exceeding pre-covid levels and long-haul traffic making up lost ground. Pic: Steve Parsons/PA Wire

French company Safran, which provides engines for Boeing , unveiled stronger than expected quarterly revenues on Wednesday, buoyed by a swift recovery in air travel demand, but predicted problems with aviation's supply chain could drag into next year.

"The (pandemic) demand crisis is well and truly behind us," chief executive Olivier Andries said after reporting first-quarter revenues that rose 24.7% on an underlying basis to €5.2bn.