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• ITA Airways' business plan aims for long-haul expansion and deeper Lufthansa ties

  In a Wednesday statement, ITA Airways said that the board had approved a business plan for 2026-2030, which focuses on long-haul growth, fleet renewal and closer integration with Lufthansa. Italian airline, owned by the Italian government in majority and by Lufthansa at 41%, plans to expand intercontinental flights from Rome to North America, South America and Asia to increase tourism and trade. The airline plans to upgrade its fleet by adding one new long haul aircraft every year starting in 2026. By 2030, it hopes to operate around 100 Next-Generation jets. ITA is expecting deeper synergies between Lufthansa and ITA, including joining Star Alliance by 2026 and taking part in joint ventures on transatlantic and Japanese routes. "We are laying down the foundations to continue to be Italy's reference airline with a role strategic for the national economy system and to improve connectivity with the rest the world," stated chairman Sandro Papalardo. ITA CEO Joerg eberhart said that the strategy will create jobs and have a positive impact on the industry. (Reporting and editing by Angelo Amante)

• Source: Brazil asks US not to impose 50% tariff on Embraer planes and food products.

  Sources familiar with the issue said on Tuesday that the Brazilian government asked the U.S. not to include food products or Embraer aircraft in the tariff of 50% it intends to impose starting August 1. Sources said that the request was at the forefront of recent discussions between Brazilian officials and U.S. officials. This included three recent calls between Brazil's Vice-President and Trade Minister Geraldo Alckmin, and U.S. Secretary of Commerce Howard Lutnick. The request was first published in the newspaper Folha de So Paulo on Monday. The press office for the Brazilian Development and Trade Ministry headed by Alckmin denied the report and said that the government was working to suspend tariffs in all sectors. A Brazilian official who spoke on condition of anonymity in order to discuss this sensitive subject acknowledged that there were some government priorities which it was not able to make public due a confidentiality clause within the negotiations. The source also said that the company wanted to avoid the impression that it was trading some sectors in exchange for others. The same source added, however, that certain sectors should be given priority in the discussions due to their severity in some areas. Embraer is the No. The government is most concerned about Embraer, the world's No. The company has warned that a tariff of 50% could lead to cancellations of orders, delayed deliveries, and job losses, which would negatively impact its revenue, just as the pandemic had. Ports and Airports minister Silvio Costa Filho stated that the government would "do everything in its power" to assist Embraer, hinting towards the possibility of providing credit lines for the planemaker. The U.S. also buys a lot of Brazilian food, including coffee and orange juice. Trump's tariff plan could have a devastating effect on Brazil's citrus belt. Factory production is already being cut back and farmers are considering letting fruit rot because of low prices. Tariffs may also halt the flow Brazilian coffee into the U.S.

• The US and EU aerospace rivals unite to protect tariff-free aircraft export

  The United States and European Union have reached a provisional agreement to exempt planes from tariffs. This will avoid a possible threat to jet production in both regions, and cap months of unusual unity among rival plane makers. Officials in Europe said that the framework agreement, announced on sunday, would see the U.S. impose an import tariff of 15% on most EU products, but protect industries such as aerospace with zero-forzero tariffs for aircraft and parts. After intense lobbying it spares a sector that is often the lightning rod of trade tensions. The World Trade Organization was tested to its limit by a 17 year dispute over Airbus or Boeing subsidies, before a truce came in 2021. The threat of U.S. Tariffs, which would have compounded the supply chain issues, had led to a potential increase in costs for aircraft, engines, spare parts and components, from landing gear to seat. There are still questions about the details of the agreement and whether they will include other components such as space. One European industry official said, "We just wait until we see these written down." Airbus confirmed that it has taken note of this deal. It said that "a stable and predictable trading environment is essential for the highly integrated global aerospace industries." Boeing has not yet commented on the matter. UNITED CAMPAIGN The agreement reached on Sunday follows a discrete and unusually united campaign aimed at reverting to the landmark 1979 agreement that mandated duty free trading of civil aircraft between more than 30 nations. Airbus and Boeing were involved in a trade dispute over subsidies that had splintered the industry only a few short years ago. Now, both sides of Atlantic are working together. Sources say that two terms in the previous handbook of the industry have been quietly dropped: WTO and multilateral. The 1979 Agreement on Trade in Civil Aircraft, which eliminated tariffs on parts and aircraft, is one of the few industry-specific agreements that survived an earlier round when the World Trade Organization was opened in 1995. U.S. president Donald Trump, who called the WTO the "single worst trade deal ever made," seems to prefer bilateral agreements over broad alliances, from trade to security. "Multilateralism" has been one of the most vehement criticisms of America First's philosophy. All sides were active in lobbying, but sources within the industry highlighted a discrete but influential role that GE Aerospace CEO Larry Culp played. Culp said in April that he advocated the re-establishment of the tariff-free régime for the aerospace sector during a meeting at the White House with Trump. He stressed that the administration "understands" the position, and that the zero-duty system had helped the U.S. Aerospace industry achieve a $75 billion trade surplus each year. Officials from the aerospace industry also claimed that there was a strong interconnection between Boeing and its European rival Airbus. Tariffs in the U.S. would hurt all of us, they said. GE had no immediate comment to make on the new agreement. In May, Trump and Britain reached a trading agreement that restored duty-free jet engine trade. Talking Templates Aerospace industry officials have urged the White House, following the US-UK deal, to use the template as a guide for future trade negotiations. GE's Culp, and Delta Air Lines CEO Ed Bastian, both referred to the deal as a model. The agreement does not restore the entire 1979 agreement, but instead focuses on just the largest aerospace markets. Boeing delivers around 17% of its aircraft to Europe, while Airbus ships about 12% of its jets, with some being assembled locally, to the United States. According to the French industry lobby Gifas, Europe and the U.S. each have their largest markets for aircraft parts. The agreement has relieved one major source of pressure. However, Boeing, Airbus, and their suppliers may still find themselves caught in the trade tensions between Washington, D.C., and China as they try to do business with them. Aerospace companies also await the results of an ongoing U.S. investigation into trade in aerospace. In May, the U.S. Commerce Department began a national security investigation under "Section 224" into the imports of aircraft, jet engines, and parts for commercial aircraft that could be the basis for tariffs, quotas, or both. U.S. Airlines who met with the Department say that much of their focus was on China, and the potential disruption of key supplies such as rare earths and magnetic materials. Embraer's regional jets are the only ones that have alternatives. Embraer estimates that tariffs of 50% on the importation of these jets could add $9,000,000 per plane to the cost for U.S. carriers. Alaska Air announced last week that it may delay some deliveries. (Writing and editing by Bernadettebaum, Tim Hepher)

• German Minister says that institutions must be independent when asked about Trump's firing

  Lars Klingbeil, German Finance Minister, said that state institutions should be independent of politics and free of politics. He was responding to a question about Donald Trump's decision to fire the Bureau of Labor Statistics head. Klingbeil stated that he believes this approach is wrong. He said it's important for independent institutions to stay independent, and for politics to not interfere. Trump dismissed Erika McEntarfer, the head of the Bureau of Labor Statistics (BLS), after a shockingly weak scorecard on the U.S. employment market. He accused her of manipulating figures without any evidence. Klingbeil, ahead of a meeting he will have with Treasury Secretary Scott Bessent on Thursday, said that democracies take the right course when they maintain the independence and power of their institutions. Klingbeil stated, "I cannot tell you my style of politics, but I do not attack independent, neutral and proven institutions as it appears to be happening here." Klingbeil said that there were many things to clarify regarding the EU's trade agreement with the United States. He also added that the bloc was too weak in the negotiations. (Reporting and editing by Matthias Williams, Helen Popper and Maria Martinez)

• PostNL confirms guidance after posting surprise operating profit for Q2

  Dutch postal company PostNL announced a surprise operating income for the second quarter on Monday and confirmed its full year guidance, citing progress made in strategic initiatives as well as benefits from targeted yield-measures. PostNL, a company that delivers letters and parcels across the Netherlands and Belgium, reported a normalised operating loss of 11 million euros (12.74 million dollars) for the third quarter. This is down from 18 million euros a year ago. Five analysts polled by the company had predicted a loss on average of 3 million euro. In a press release, CEO Pim Berendsen stated that "other measures to adapt our operation have resulted into efficiency improvements and planned cost savings at both Parcels and Mail and the Netherlands." PostNL, which is active in Belgium, The Netherlands, and Luxembourg, has confirmed that it expects its normalised annual operating profit to remain the same as last year. It did, however, flag a goodwill impairment of 40 million euros on its Dutch Mail business after the Dutch Government rejected its request for a financial contributions for 2025-2026. The impairment is excluded in the normalised results. PostNL announced that it would not be paying an interim dividend, but will still pay one over the course of the year. Reporting by Olivier Cherfan, Gdansk. Editing by Milla Nissi.

• US LNG exports surged in July, LSEG Data show

  The preliminary data of financial firm LSEG shows that exports of U.S. liquefied gas (LNG), which is also known as liquefied petroleum gas, jumped from 6.9 million metric tones (MT) to 9.1 millions metric tons (MT) during July. This was a significant increase compared with June, when some plants completed maintenance and Venture Global’s Plaquemines plant ramped up its production. The U.S. exports the most LNG in the world, and its July output was its third-highest ever. According to LSEG, the U.S. saw three of its highest monthly LNG production numbers ever this year. Freeport LNG's third-largest export facility could have had higher U.S. LNG shipment numbers if it hadn't experienced several unplanned power outages. It reported seven power outages to the Texas Commission on Environmental Quality in July. LSEG data revealed that its output in July fell to 1.3 metric tons from 1.4 MT the previous month. Based on projects that are already under construction, the U.S. may double its LNG export capability by 2030. The industry is expected to gain momentum as a result of President Donald Trump's pledge to boost the energy industry in the U.S. Venture Global announced this week that it had made a final investment decision in Louisiana for its 28 million metric ton per year (mtpa), CP2 facility. LSEG data show that in July Plaquemines in Louisiana exported 1.4 MT super-chilled natural gas, compared with 1.2 MT exports in June. This helped the U.S. reach 9.1 MT, compared with 8.4 MT during June. GAS PRICES DROP IN EUROPE AND ASIA According to LSEG, European gas prices dropped in July from $12.38 to $11.56 per million British Thermal Unit (mmBtu), compared to the European benchmark Title Transfer Facility located in the Netherlands. Despite the lower prices, U.S. exports of LNG to Europe remained strong. LSEG data shows that 5.25 MT or 58% of the total July LNG exports went to Europe in July. This is slightly less than the 5.53 MT or 66% sold in June. U.S. exports could increase to Europe in the next few years, following a recent trade agreement in which the European Union committed to buying $750 billion worth of U.S. Energy over a period of five years. Gas prices in Asia were also lower than in the United States in July. The benchmark Japan Korea Marker dropped to $12.18 from $12.90 in June. LSEG data shows that exports to Asia increased slightly in July to 1.8 MT (20%) of U.S. Liquefied Natural Gas (LNG) exports, compared with 1.56 MT (19%) in June, as the demand for energy to cool grew. In a report released on Wednesday, Morgan Stanley bankers told their clients that the hotter weather in July had led to an improvement. US SELLS MORE LNG CLOSE TO HOME The U.S. LNG exported to South America increased in July, as the continent experienced colder than normal weather. The U.S. exported 1,03 MT or 11% its total LNG to Latin America. Cargoes were sent to Brazil, Argentina Colombia and Chile. Cargoes have also been sold to Caribbean countries including Jamaica, Puerto Rico, and the Dominican Republic. Egypt imported eight cargoes of U.S. supercooled gas in July. This totaled.59 MT. Six cargoes containing.43 MT LNG left U.S. port in July without a clear destination. This meant they were still available for order. The first LNG was shipped from Canada's major LNG plant in Kitimat (British Columbia) on July 1. This is the first North American facility with direct access the Pacific Ocean, and shorter sailing times to Asia. According to LSEG ship tracking, LNG Canada exported four shipments, or.29 MT, of LNG during July. Reporting by Curtis Williams, Houston; Editing and proofreading by Liz Hampton and Andrea Ricci

• Asian spot prices rise on supply and geopolitical concerns

  The Asian spot price of liquefied gas (LNG), after two weeks of declining prices, has risen slightly as geopolitical factors such as U.S. sanctions against energy producer Russia and supply concerns have lent support. Average LNG price for delivery to Northeast Asia in September Industry sources estimate that the price per million British Thermal Units (mmBtu) is now $12.10. This compares to $11.90/mmBtu from last week. Klaas Dzeman, a market analyst with Brainchild Commodity Intelligence said that geopolitics is back in the spotlight, and the threat of sanctions against offtakers for Russian oil and natural gas could tighten the market, if LNG was purchased elsewhere. However, it's still unclear what will happen. U.S. president Donald Trump has threatened sanctions against both Russia and its buyers if Moscow does not make progress in ending the conflict in Ukraine by August 8th. Dozeman said that the U.S.-EU trade agreement remained positive, since the EU committed to buying $250 billion worth of U.S. Energy Supplies per year. Analysts said that the earthquake this week in eastern Russia, which triggered tsunami alerts, and a slower ramp-up than expected at LNG Canada also added to concerns about supply. Go Katayama, analyst at Kpler, said: "Any upside is still capped by the weak cooling demand in South and Southeast Asia and the elevated LNG inventory as well as underground gas storages in China." S&P Global Commodity Insights, based in Europe, assessed the daily North West Europe Gas Marker benchmark price for cargoes to be delivered in September ex-ship at $11.347/mmBtu as of July 31. This represents a $0.45/mmBtu reduction from the September futures prices at the Dutch TTF Hub. Spark Commodities set the price at $11.374/mmBtu while Argus put it at $11.39/mmBtu. The bullish sentiment will be suppressed by the strong (gas) pipeline flows and high German wind power generation. "However, LNG supply constraints from Italy's Rovigo Maintenance and increased Egyptian procurement activity could introduce an upward risk," said Kpler Katayama. Martin Senior, Argus' head of LNG pricing, confirmed that one LNG cargo from the Netherlands was diverted to Egypt. He added that the high temperatures in Egypt may support demand for more cargoes. Qasim Afghanistan, Spark Commodities analyst, says that the U.S. Arbitrage to Northeast Asia via Cape of Good Hope was widened to continue to encourage U.S. cargo shipments to Europe. The arbitrage via Panama that had been pointing towards Asia for nearly two weeks is now closed, and pointing toward Europe. He added that in LNG freight, the Atlantic rates increased to $35,500/day last Friday while Pacific rates fell for a 5th consecutive week to $33,500/day.

• What Moscow could do if Trump stopped Russian oil exports to India

  The U.S. president Donald Trump's request to India to stop Russian oil imports may threaten billions of dollars in Russian revenue, and Moscow could retaliate with the shutdown of a major U.S. oil pipeline. This could lead to another global supply crisis. India, the third-largest oil importer in the world, is now the largest buyer of Russian crude oil. It purchases up to 2,000,000 barrels of oil per day, which represents 2% of the global supply. China and Turkey are also among the top buyers. Analysts at JP Morgan stated this week that the Indian route was so vital to the Kremlin, if it were disrupted, it would prompt the Kremlin to take retaliation by shutting the CPC pipeline in Kazakhstan, which is owned by U.S. oil giants Chevron & Exxon. The U.S. Bank said that Russia has leverage. Trump has threatened to impose tariffs up to 100 percent on countries who buy Russian oil, unless Moscow agrees to a peace agreement with Ukraine before August 7-9. On Friday, a 25% tariff will be applied to all U.S. imports of goods from India. Reports on Thursday indicated that Indian state refineries halted their purchases of Russian crude oil in the wake of Trump's threats. REALIGNMENT India has only been buying large amounts of oil from Russia since 2022, when it became the second largest oil exporter in the world. After Europe, Russia’s former largest client, banned Russian oil due to its military actions against Ukraine, India became the top importer. Rosneft, the Russian oil giant, has a large stake in India's largest oil refinery. According to data from the Indian government, India will be 35% dependent on Russian oil imports in 2024-25. These imports are expected to total $50.2 billion. Aldo Paribas' Aldo Spangjer said that cutting off the flow would require massive realignment in trade flows. He added that global supply is already stretched. According to LSEG, India purchases all types and grades of Russian crude oil, including Urals and Sokol from Western ports and ESPO and Sokol in the Pacific, as well as some grades from the Arctic. India would be the worst affected if it stopped buying Urals, as India purchases up to 70 percent of Russia's largest export grade. India's oil ministry said that the country could find an alternative supply. India would have to increase imports of Middle Eastern and U.S. crude oil or reduce refining operations, which could lead to an increase in diesel prices in Europe. Neil Crosby, from Sparta Commodities, said that Indian refiners may have to paring runs because they will struggle to replace heavy Russian crude. Falling Income Russia continues to sell oil despite international sanctions since 2022, even though it does so at a discount to global prices. The fall in global prices has already put pressure on Russia's income. The finance ministry reported that its oil and gas revenues fell 33.7% on an annual basis in June, to their lowest level since January 2023. Calculations show that revenues will drop 37% in July as a result of lower global oil prices, and a stronger rouble. The traders stated that if India ceases to buy oil, Russian companies will be forced to store it on tankers, pay extra for shipping costs, and offer large discounts to new customers. Traders said that a loss of 2,000,000 bpd in exports could also prompt Russia to gradually reduce its oil production, which is currently at 9,000,000 bpd. Russia's production is currently regulated by OPEC+ quotas. How can Russia respond? JP Morgan reported that Russia could divert up to 0.8 million barrels per day of oil towards Egypt, Malaysia Pakistan, Brunei South Africa, and Indonesia. Moscow could also interrupt the CPC pipeline in order to ensure that the West suffers the consequences of higher oil prices. ExxonMobil, ChevronShell, ENI, TotalEnergies and Chevron ship up to one million barrels per day via CPC. The pipeline has a total capacity of about 1.7 million barrels. Crosby said that if we have a noticeable and substantial problem clearing Russian crude, and Putin shuts down CPC, the oil price could rise to well over $80 a barrel. The CPC pipeline crosses Russian soil and the consortium clashed against Moscow which ordered that it suspend operations in 2022 or 2025 for several days citing environmental regulations and tanker regulations. If CPC and Russian oil flows were to be stopped together, it would disrupt global supply by 3.5 million barrels per day or 3.5%. JP Morgan stated that the Trump administration will find it impossible to sanction the second largest oil exporter in terms of causing oil prices to spike.

• Europe's airline shares surpass US counterparts amid tariff turmoil

  In the past six months, European airline shares have surged despite geopolitical uncertainty and economic instability. Meanwhile, U.S. airline stocks have fallen amid a decline in travel spending. Since the beginning of this year, there has been a lot of volatility in the stock market as President Donald Trump’s trade war has shaken business and consumer confidence. Travel spending is a major discretionary expense for consumers and businesses. The prospects of a weak economy in the U.S. coupled with high inflation has impacted shares of Delta, United, and American Airlines. The two main European flag carriers, Lufthansa & Air France-KLM, reported better results for the second quarter on Thursday. They were able to overcome concerns about transatlantic travel while also boosting their share prices as investors benefited from cost discipline. The shares of British Airways owner IAG have continued to rise, although more modestly, than their European counterparts. Analysts said that it helps to have Americans still eager to travel to Europe with European carriers. Air France, in particular, has boosted its luxury image to boost sales of premium seats. Air France-KLM is the leader in terms of share performance amongst major European carriers, followed by Lufthansa, IAG and Lufthansa. All the major American carriers have had a down year for the most part, but there has been an increase in the last few months. SIGNS OF IMPROVEMENT The performance in terms of share and results comes despite complaints from European airline chief executives that they are subjected to undue regulations tied to airport taxes and environmental costs compared to international carriers. As a result of Trump's passage of his tax and spending bill, and the clarity that has been provided on tariffs, some macroeconomic concerns have been eased for U.S. Airlines. Their shares are now recovering from their lows of this year and there is hope for an improvement in travel demand. Dudley Shanley, analyst at Goodbody, said: "Flag carriers are increasingly motivated by the realisation that North Atlantic demand is a little lower but not as bad as investors had feared." Even so, the earnings forecasts for U.S. Airlines in 2025 have been significantly revised down. Conor Cunningham is an analyst at Melius Research. He said that the confidence of consumers and corporate travelers could lead to a change in the travel industry. He said: "We could look back at the tariff-induced pause as a temporary pause."

• British Airways owner IAG beats second-quarter profit estimates

  IAG, the owner of British Airways, reported earnings for the second quarter that were better than expected on Friday. This was due to strong demand from transatlantic travelers despite concerns about possible knock-on effects caused by President Donald Trump’s tariff war. Air France-KLM, Lufthansa and other European airlines have largely avoided the turmoil caused by tariffs. Both companies reported strong second quarters this week and confirmed their annual forecasts. IAG posted an operating profit for the third quarter of 1,68 billion euro ($1.92 billion), compared to the average analyst forecast of 1.4 million euros, according to an LSEG survey. This is up 35% compared to a profit last year of 1.2 billion euro. "We continue benefiting from the trend of structural shifts in consumer spending to travel." We continue to focus on our core geographies and market-leading brands, where we see strong performance," said Chief Executive Luis Gallego in a press release. The group confirmed that it had made its full-year forecasts, and noted that there was strong demand for its products in North America as well as Latin America. U.S. Airlines haven't fared well. Delta pulled its full-year forecast this spring because of concerns over falling demand. IAG was one of the best performers in terms of share performance compared to other European carriers over the past few years. However, this year it has fallen behind rivals Lufthansa & Air France-KLM who have recovered from their cost pressures.

• NTSB investigates Delta flight which injured 25 people after severe turbulence

  The National Transportation Safety Board is investigating the Delta Air Lines flight which took off from Salt Lake City Utah on Wednesday to Amsterdam. This flight injured 25 passengers and was diverted by severe turbulence to Minneapolis. Delta announced on Thursday that seven crew members who were hospitalized aboard the Airbus A330-900 have been released, and all passengers who were sent to hospitals to be evaluated by the airline but were willing to divulge their status have been released. Delta has said that it will cooperate with the NTSB's investigation. Delta Flight 56 was diverted from Wyoming to Minneapolis-Saint Paul Airport due to "significant turbulence", Delta reported. The plane carried 275 passengers plus 13 crew. Delta said that medical personnel evaluated all passengers after the plane had safely landed in Minneapolis. After reaching an altitude of 37,000 feet, the aircraft experienced turbulence. It briefly climbed to 38,000 feet, before descending to a little below 35,800. FlightRadar24, a flight tracking service, reports that it stabilized later at 37,000 feet. Delta will operate an unscheduled flight on Thursday evening from Minneapolis to Amsterdam to transport affected customers. Reporting by Disha Mihsra from Bengaluru, and David Shepardson from Washington; editing by Kate Mayberry and Aurora Ellis

• Safran shares rise as French jet engine maker raises outlook

  Safran, the French aerospace company, raised its annual forecasts on Thursday after reporting higher-than expected first-half profit. Its shares rose more than 4% thanks to a brisk demand of spare parts for jet engine. Safran, who together with GE Aerospace produce engines for Airbus medium-haul aircraft and Boeing long-haul jets reported higher maintenance profits, and its cabin interiors business, which had been struggling, saw further progress in the black. After certain adjustments, the company's closely-watched recurring operating income increased 27% to 2,51 billion euros ($2,87 billion) as revenues rose 13% to 14,77 billion euros. According to a consensus compiled by the company, analysts expected an average operating profit of 2,39 billion euros for the first half of 2014 on revenues of 14,74 billion euros. Safran has raised its forecast for the full year of the same profit measure from 4.8 to 4.9 billion euros to a range between 5.0 and 5.1 billion euro. This is an increase over a previously stated range. It forecast revenue growth of the low teens instead of 10%. Analysts at Bernstein said that Safran's aftermarket indicators, which are used to determine how much money engine manufacturers make during their regular visits to engine shops, exceeded expectations. Analysts say that the growing demand for air travel and the shortage of planes caused by a lack of deliveries from aircraft manufacturers have forced airlines into flying planes longer. This has led to extra maintenance. Safran shares rose 3.9% at midday. Shares of UK engine manufacturer Rolls-Royce rose also After improvements in its large wide-body engines led to strong first-half performance, it raised targets. ENGINE AGREEMENT Airbus, a jet maker that has been firing at engine manufacturers for delays in delivering new engines into jet factories because parts are diverted to repair shops to keep existing aircraft flying. Airbus and CFM have been strained by the tug-of-war between airplane hangars and aircraft factories over parts, while Pratt & Whitney, a rival engine manufacturer is gaining ground. Also under scrutiny Safran CEO Olivier Andries admitted that CFM was behind on deliveries to Airbus, partly due to a French strike. But he told reporters that the plans to catch up were "challenging, but totally achievable". He confirmed that CFM and Airbus had reached an agreement on the number of engines to be delivered in the remainder of the year, as the planemaker strives towards its delivery target. Airbus CEO Guillaume Faury On Wednesday The engine makers have agreed to help meet its delivery targets. Safran announced separately plans to build a carbon brakes plant in France, near Lyon. This follows a competition with Quebec and Oregon State, U.S.A. for the new major site. Safran, which was founded 20 years ago by the merger of Snecma, a state-owned engine manufacturer, and Sagem Electronics (now part of Sagem), acquired the Collins Aerospace actuation and control business for $1.8 billion last week. The company also sold a small U.S. operation to comply with the demands of regulators for the Collins acquisition. Safran estimated that the combined transactions will add between 600 and 700 millions of euros to the group's revenues for the remainder of the year.