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SSAFRAN PRESS RELEASE Q1 sales in line with recovery profile expectations in 2021 Paris , April 30 , 2021 Pursuit of adaptation efforts Full - year 2021 outlook confirmed Adjusted data • Revenue at Euro 3,342 million , down ( 37.9 ) % on a reported basis Organic growth down ( 34.6 ) % across all divisions Consolidated data • Revenue at Euro 3,289 million Foreword All figures in this press release represent adjusted [ 1 ] data , except where noted . Please refer to the definitions and reconciliation between Q1 2021 consolidated revenue and adjusted revenue . Please refer to the definitions contained in the Notes on page 6 of this press statement ; Organic variations exclude changes in scope and currency impacts for the period . Executive commentary CEO Olivier Andriès commented : " The weakness in Q1 sales reflects , beyond comparison basis , the traffic deterioration in January and February while March showed signs of improvement . Overall , the decline in activity this quarter is consistent with the profile on which we have built the FY 2021 guidance , which we confirm . We remain flexible and prolong efforts which will produce their full effects in H2 and the following years . " Air traffic data in Q1 2021 Traffic recovery stalled in the first 2 months of 2021 everywhere around the world . Nevertheless evidence of a recovery from China and the United States has been noticed since March . Countries are facing very different situations with global upsurge in new Covid - 19 cases , spread of variants and new quarantine measures , while the vaccine rollout is at very different paces around the world . CFM56 and LEAP flight cycles improved notably in China and in the United States . As of April 25 , 2021 : ■ Weekly CFM56 fleet cycles are down ( 46 ) % compared to 2019 improving from ( 61 ) % at February 14 , 2021 ; Weekly LEAP fleet cycles are up 56 % compared to 2019 improving from ( 29 ) % at February 14 , 2021 . Given the current weak traffic in Europe and APAC ( excl . China ) , uncertainties remain on the expected recovery in narrowbody capacity from Q2 . 1