Stock Markets February 13, 2026

Safran Says CFM Will Try to Help Airbus but Sticks to Existing Commitments

CFM aims to meet any extra Airbus engine requests this year but maintains its agreed volumes and 2024 delivery plans

By Sofia Navarro
Safran Says CFM Will Try to Help Airbus but Sticks to Existing Commitments

Safran CEO Olivier Andries said CFM will attempt to supply additional engines to Airbus this year if possible, while emphasizing that the company's primary obligation is to fulfill its pre-existing contractual commitments. CFM's forecast for a 15% rise in LEAP engine deliveries this year does not include assumptions about expanding its market share, and the firm has set volumes with Airbus for 2026. The comments come amid reports Airbus is in a dispute with Pratt & Whitney over 2026-27 supplies, putting its A320neo production ramp to 75 a month in 2027 at risk.

Key Points

  • CFM will attempt to supply extra Airbus engines this year if feasible, but prioritizes fulfilling existing contractual commitments - impacts aerospace manufacturing and airline fleet deployment.
  • Safran's guidance includes a 15% increase in LEAP engine deliveries this year, with no assumption of expanding market share - relevant to aerospace suppliers and investor expectations.
  • Airbus lacks a supply deal with Pratt & Whitney for 2026-27, putting the targeted increase of A320neo-family production to 75 aircraft per month in 2027 at risk - affects aviation production and supply-chain sensitive sectors.

Safran's chief executive, Olivier Andries, said on Friday that CFM will do what it can to accommodate any request from Airbus for additional engines this year beyond pre-arranged quantities, but that meeting existing supply obligations remains the company's priority.

Industry sources have described Airbus as being in a standoff with Pratt & Whitney over deliveries, a situation that has threatened the planemaker's core production objectives and prompted it to seek extra engines from CFM to adjust capacity.

Andries made clear that CFM's internal projections, included in Safran's annual earnings disclosed on Friday, anticipate a 15% increase in total LEAP engine deliveries this year. He stressed, however, that those forecasts do not factor in any plan to grow CFM's share of the market beyond already agreed volumes.

CFM, which is jointly owned by Safran and GE Aerospace and competes with Pratt & Whitney on engine selections for the A320neo family, has set contractually agreed delivery volumes with Airbus for 2026.

"As with each year, if we can do more we will, but our commitment corresponds with our share of the market," Andries said.

Previous reporting has indicated that Airbus' production target is uncertain because it lacks a signed supply agreement with Pratt & Whitney for 2026 and 2027. Airbus has signalled plans to increase output of the A320neo family to 75 aircraft per month in 2027, up from roughly 60 per month at present, but the company has postponed that target repeatedly owing to supply-chain issues.

Airbus has previously reported late arrivals of engines, particularly those produced by Pratt & Whitney, and has in the past flagged issues with CFM deliveries as well. Pratt & Whitney said at the Singapore Airshow last week that it remained confident an agreement with Airbus would be reached.

Airbus declined to comment ahead of its earnings announcement scheduled for February 19.


Context and implications

  • CFM's stated willingness to provide additional engines is conditional and secondary to meeting its contracted obligations.
  • The 15% projected rise in LEAP deliveries reflects CFM's internal outlook for the year but does not imply a deliberate plan to capture a larger market share from competitors.
  • The unresolved supply arrangement between Airbus and Pratt & Whitney for 2026-27 is a key factor keeping Airbus' production ramp plans uncertain.

Risks

  • Unresolved supply agreement between Airbus and Pratt & Whitney for 2026-27 creates uncertainty for Airbus' production ramp-up to 75 A320neos per month in 2027 - risk to aircraft manufacturers and airlines awaiting deliveries.
  • Engine delivery delays, particularly from Pratt & Whitney and historically at times from CFM, may continue to disrupt production schedules and downstream airline operations - risk to aerospace supply chain and aircraft lessors.
  • CFM's commitment to agreed volumes for 2026 means there is limited guaranteed capacity to cover shortfalls from other suppliers, which could constrain Airbus' ability to meet production targets - risk to OEMs and suppliers.

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