French Aerospace Firm Safran Bags $1.2B Worth Contracts From Emirates

French aerospace and defense company Safran SAFRY has bagged several contracts worth over $1.2 billion combined from Emirates. 

The contract includes a $1 billion deal for the latest generation Safran Seats for Emirates' new fleet of A350, 777X-9 and existing 777-300 aircraft.

The deal also represents a significant export order for a French company, and is part of Emirates' ongoing investment into France and Europe.

"The continuation of our 30-year partnership underscores Safran's commitment to innovative solutions for aircraft interiors, critical aircraft equipment and services to ensure the best possible passenger experience," said CEO Olivier Andriès.

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Also, Safran Cabin will be providing Emirates' A350 and B777-9 fleet with Galley shipsets, equipped with GEMini and the new NUVO galley inserts.

Safran Landing Systems will be supplying high performance wheels and carbon brakes for the Emirates A350 fleet.

Furthermore, Emirates has signed a 10-year service agreement with Safran Aerosystems covering repair and maintenance for 777 safety and cabin systems components.

Price Action: SAFRY shares are trading higher by 2.77% at $42.63 on the last check Tuesday.