Tests of the engine ended during the third quarter 2017 led Safran (Euronext Paris: SAF) to inform its client Dassault Aviation and the market of a delay of the Silvercrest engine's certification schedule that would enable achieving the performances requirement in the full flight domain.
Dassault Aviation notified Safran Aircraft Engine on December 13, 2017 that Dassault Aviation does not share Safran Aircraft Engine's view of the status of the programme. This may lead to termination of the contract pursuant to its terms.
As Safran has previously indicated, contractual penalties applicable to the engine development phase have already been provisioned in its accounts. Safran confirms its 2017 annual guidance.
Safran will update the market of the actions that will be taken, as required.