The deliveries are scheduled to take place during 2018 to 2026. In addition to the 60 aircraft, Flynas has converted 20 A320ceo from a previous order to A320neo bringing the airline’s total firm order to 80 A320neo. Toulouse, France – Flynas, a Saudi Arabian low-cost carrier, has reached an agreement with Airbus for 60 A320neo family aircraft. Safran will finance the transaction with a combination of cash on hand, future proceeds from selling Safran Identity & Security, existing funds, and a 4 billion euros bridge loan. Safran has already identified 200 million euros of cost synergies in the first 2 years from savings in procurement and optimizing the combined group's footprint. The combined group would become the second largest player worldwide in aircraft equipment with revenues of approximately 10 billion euros, have around 92,000 employees (more than 45,000 in France), and a presence in more than 60 countries. The tender offer is subject to an acceptance threshold of 50% of the share capital of Zodiac Aerospace.Ĭompletion of the tender offer is expected by the end of the Q4 2017 and completion of the merger is expected early 2018. Safran is offering 29.47 euros per share for Zodiac Aerospace's shares, a 25% premium of current price.

In electrical systems, Zodiac Aerospace's assets would reinforce Safran's portfolio of technologies and position the group ideally for future developments towards more electrical aircraft.

The new entity would combine Safran's capabilities in landing gear, wheels and brakes, nacelles, power systems, actuation, and avionics, with Zodiac Aerospace's positions in seats, cabin interiors, power distribution, lighting, fuel, oxygen and fluid systems, and safety equipment. Paris, France – Tier 1 aerospace supplier Safran is making an offer to acquire Zodiac Aerospace.

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