Paris. May 24, 2016. To date, at the Elysee Palace in the presence of the President of the Republic, Safran Aircraft Engines and Air France Industries KLM Engineering & Maintenance (KLM E FI A & M Air France KLM Group) signed a Memorandum of Understanding on the establishment of a joint venture dedicated to the repair of blades of aircraft engine compressor . The activity will specifically address the CFM56 CFM International * (powering the Airbus A320 and Boeing 737), the GE90 GE (engines powering the Boeing 777) and GP7200 Engine Alliance ** (for the A380).

51% owned by Safran Aircraft Engines and 49% by Air France KLM, the company will receive an investment of over € 20 million from the two partners and the end of 2017 will start its operations.

established in France, Sars within the business park and Rosiere in the Urban Community of La Porte du Hainaut (Hauts-de-France) on a plot of 15,000 m2, the new site will bring together all the industrial resources required at different stages of repair and implement metallurgical processes of high technology.

Following the ramp-up in 2020, the company is expected to reach 200 to 250 employees. The future structure will apply innovative management principles, based notably on the prominence of team creativity and autonomy of employees.

“The creation of this joint venture marks a new stage in relations that Safran has always maintained with Air France,” said PhilippePetitcolin, CEO of Safran. ” Our joint ambition enables us to create in France a new high technology company in a growing market. It is a great pride for the French manufacturers we participate and relocation in our territories of strategic industrial activity that implements highly skilled jobs. It’s also a real opportunity for Safran to strengthen its position as a major maintenance and aircraft repair. ”

Alexandre Juniac, Chairman – CEO of Air France KLM said for his part ” I am delighted to see Safran and Air France KLM, two industrial jewels, put their expertise together to develop new skills and create over 200 jobs in France. With this project, Air France KLM continues to invest in the development of its industrial business which is among the world champions of aircraft maintenance. This new advanced unit will allow AFI KLM E & M to increase its technological expertise and enhance the competitiveness of its services on a global market particularly demanding. “