Finance, Taxes, Insurance
Safran Takes Writedown for Snecma Silvercrest Delay
Safran is taking a €654 million charge on 2015 results to cover asset depreciation associated with the delay to its Silvercrest engine program.

Safran will take a €654 million ($720 million) one-off, non-cash charge to cover what it called “the depreciation of program-related tangible and intangible assets” associated with its delayed Silvercrest engine. Announcing otherwise very positive 2015 financial results in Paris today, the French engine maker confirmed that it has agreed to a revised schedule for certifying the engine for Dassault’s Falcon 5X. “The revised schedule provides for engine certification 18 months later than the previous schedule, in line with the indication given in October 2015,” Safran said in a written statement.


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