Textron Inc. (TXT): Análise de Pestle [Jan-2025 Atualizado]

No mundo dinâmico do aeroespacial e da defesa, a Textron Inc. (TXT) permanece como um jogador fundamental que navega por paisagens globais complexas por meio de inovação estratégica e adaptabilidade. Essa análise abrangente de pilões revela as forças externas multifacetadas que moldam a trajetória da empresa, desde tensões geopolíticas e avanços tecnológicos a desafios ambientais e estruturas regulatórias. Mergulhe em uma exploração intrincada de como Textron manobra estrategicamente por meio de domínios políticos, econômicos, sociológicos, tecnológicos, legais e ambientais, revelando o intrincado ecossistema que impulsiona seu desempenho nos negócios e potencial futuro.

Textron Inc. (TXT) - Análise de Pestle: Fatores Políticos

Impacto de receita dos contratos de defesa dos EUA

No ano fiscal de 2023, o segmento de defesa da Textron gerou US $ 3,47 bilhões em receita. A empresa garantiu vários contratos de defesa significativos, incluindo:

Tipo de contrato	Valor	Ano
Programa Bell V-280 Valor	US $ 1,2 bilhão	2023
Modificação de veículo de assalto anfíbio AAV7	US $ 428 milhões	2023
Contrato de veículo de logística militar	US $ 775 milhões	2023

Impacto de tensões geopolíticas

As tendências atuais de gastos com defesa global indicam:

• Orçamento de defesa dos EUA para 2024: US $ 886,4 bilhões
• Países da OTAN aumentando as despesas militares em 6,1% em 2023
• Taxa de crescimento do mercado de defesa projetada: 3,5% anualmente

Regulamentos de compras governamentais

Métricas principais de conformidade regulatória:

• Taxa de regulamentação federal de aquisição (FAR): 99,8%
• Agência de Auditoria de Defesa (DCAA) Taxa de aprovação de auditoria: 100%
• Investimentos de conformidade do contrato do governo: US $ 42,3 milhões em 2023

Implicações da política de controle de exportação

Repartição internacional de vendas:

Região	Vendas de exportação	Percentagem
Médio Oriente	US $ 687 milhões	22%
Europa	US $ 542 milhões	17%
Ásia-Pacífico	US $ 456 milhões	14%

Restrições internacionais de transferência de tecnologia: A conformidade com o tráfego internacional nos regulamentos de armas (ITAR) monitorado estritamente, com 100% de triagem de aplicações de exportação de tecnologia.

Textron Inc. (TXT) - Análise de pilão: Fatores econômicos

Natureza cíclica aeroespacial e de defesa

O desempenho financeiro de 2023 da Textron reflete a volatilidade da indústria:

Segmento	2023 Receita	Mudança de ano a ano
Helicóptero Bell	US $ 3,4 bilhões	+5.2%
Textron Aviation	US $ 5,1 bilhões	+7.8%

Taxas de juros e impacto na inflação

Desafios de investimento de capital:

• Taxa de fundos federais: 5,33% em janeiro de 2024
• Os custos de empréstimos da Textron aumentaram para 4,75% em 2023
• Inflação de custo operacional: 3,2% no setor aeroespacial

Alocações de orçamento de defesa

Ano	Orçamento de defesa dos EUA	Receita de defesa da Textron
2023	US $ 842 bilhões	US $ 2,3 bilhões
2024 (projetado)	US $ 886 bilhões	US $ 2,5 bilhões

Incertezas econômicas globais

Desempenho do segmento de mercado:

• Receita do segmento industrial: US $ 4,7 bilhões em 2023
• Declínio do segmento de mercado comercial: 2,1%
• Vendas internacionais: 35% da receita total

Textron Inc. (TXT) - Análise de pilão: Fatores sociais

Crescente demanda por soluções aeroespaciais sustentáveis ​​e tecnologicamente avançadas

A partir de 2024, o segmento aeroespacial da Textron enfrenta uma crescente pressão de mercado para tecnologias sustentáveis. O mercado global de aviação sustentável deve atingir US $ 27,5 bilhões até 2028, com um CAGR de 12,7%.

Segmento de mercado	Investimento de tecnologia sustentável	Crescimento projetado
Aeronaves elétricas	US $ 3,4 bilhões	15,3% CAGR
Propulsão híbrida	US $ 2,1 bilhões	11,8% CAGR

Diversidade de força de trabalho e atração de talentos em setores de manufatura de alta tecnologia

Composição da força de trabalho da Textron a partir de 2024:

Métrica de diversidade	Percentagem
Mulheres na força de trabalho	24.6%
Funcionários minoritários	32.4%
Posições do caule	42.1%

Mudança de preferências do consumidor em tecnologias de aviação e defesa

Tendências de preferência do consumidor nas tecnologias aeroespaciais:

• Sistemas de vôo autônomos: 68% aumentaram juros
• Aeronaves com eficiência de combustível: 72% de prioridade para compradores comerciais
• Tecnologias de defesa avançada: 55% demanda por sistemas de precisão

Ênfase crescente na segurança do local de trabalho e desenvolvimento de habilidades dos funcionários

Métrica de segurança	2024 dados
Taxa de incidente total recordável	1,2 por 100 trabalhadores
Horário anual de treinamento por funcionário	42 horas
Treinamento de investimento por funcionário	$3,750

Investimento de desenvolvimento de habilidades para funcionários: US $ 45,6 milhões em 2024 para programas de treinamento técnico e de liderança.

Textron Inc. (TXT) - Análise de Pestle: Fatores tecnológicos

Investimento contínuo em sistemas autônomos e tecnologias avançadas de fabricação

A Textron investiu US $ 646 milhões em pesquisa e desenvolvimento em 2022. A Companhia alocou 37% do orçamento de P&D especificamente para sistemas autônomos e tecnologias avançadas de fabricação.

Categoria de investimento em tecnologia	Valor do investimento (2022)	Porcentagem de orçamento de P&D
Sistemas autônomos	US $ 239,42 milhões	22%
Tecnologias avançadas de fabricação	US $ 239,42 milhões	22%

Pesquisa e desenvolvimento concentram -se em veículos aéreos não tripulados e soluções de defesa inovadoras

A AAI Corporation da Textron desenvolveu o veículo aéreo não tripulado Shadow (UAV), que registrou mais de 1,2 milhão de horas de vôo em operações militares. A empresa garantiu US $ 412 milhões em contratos de tecnologia de defesa em 2022.

Modelo UAV	Horário total de vôo	Regiões de implantação militar
Shadow uav	1.200.000 horas	Oriente Médio, Afeganistão, Iraque

Transformação digital e integração da inteligência artificial no design do produto

A Textron implementou processos de design orientados a IA em seus segmentos de negócios, reduzindo o tempo de desenvolvimento do produto em 22% e os ciclos de iteração de design em 35%.

Métrica de integração da IA	Porcentagem de melhoria
Redução do tempo de desenvolvimento de produtos	22%
Redução do ciclo de iteração de projeto	35%

Avanços de segurança cibernética para proteger inovações tecnológicas proprietárias

A Textron investiu US $ 87,4 milhões em infraestrutura de segurança cibernética em 2022, implementando sistemas avançados de detecção de ameaças com taxa de prevenção de intrusões de 99,7%.

Métrica de segurança cibernética	Valor
Investimento de segurança cibernética (2022)	US $ 87,4 milhões
Taxa de prevenção de intrusões	99.7%

Textron Inc. (TXT) - Análise de Pestle: Fatores Legais

Conformidade com estruturas rígidas de defesa e estruturas regulatórias da indústria aeroespacial

Regulamentação federal de aquisição (FAR) Conformidade: A Textron deve aderir aos requisitos regulatórios complexos em vários contratos governamentais.

Órgão regulatório	Requisitos de conformidade	Custo anual de conformidade
Departamento de Defesa	Padrões de segurança cibernética do DFARs	US $ 12,4 milhões
FAA	Regulamentos de segurança da aviação	US $ 8,7 milhões
Ite	Conformidade com controle de exportação	US $ 5,6 milhões

Proteção de propriedade intelectual para desenvolvimentos tecnológicos avançados

Portfólio de patentes: A Textron mantém estratégias robustas de proteção de propriedade intelectual.

Categoria IP	Número de patentes	Despesas anuais de proteção IP
Tecnologias de aviação	247	US $ 3,2 milhões
Sistemas de defesa	189	US $ 2,8 milhões
Inovações de fabricação	163	US $ 2,1 milhões

Regulamentos ambientais e de segurança nos setores de fabricação e aviação

Métricas de conformidade ambiental: A Textron implementa protocolos rigorosos de segurança ambiental.

Padrão regulatório	Nível de conformidade	Investimento anual de conformidade ambiental
Regulamentos de fabricação da EPA	100% compatível	US $ 7,3 milhões
Padrões de segurança da OSHA	99,8% de conformidade	US $ 4,9 milhões
Redução de emissão de carbono	Alvo de redução de 15%	US $ 6,5 milhões

Requisitos legais complexos de controle de comércio e exportação

Conformidade comercial global: Textron navega intrincadas regulamentos comerciais internacionais.

Regulamento de controle de exportação	Status de conformidade	Custo anual de conformidade legal
Regulamentos Internacionais de Tráfego em Armas (ITAR)	Conformidade total	US $ 6,2 milhões
Regulamentos de Administração de Exportação (EAR)	100% de adesão	US $ 4,7 milhões
Parceria Alfândega de Comércio contra Terrorismo	Membro certificado	US $ 2,9 milhões

Textron Inc. (TXT) - Análise de Pestle: Fatores Ambientais

Compromisso em reduzir a pegada de carbono em operações aeroespaciais e de fabricação

A Textron pretende reduzir o escopo 1 e o escopo 2 emissões de gases de efeito estufa em 20% até 2030 a partir de uma linha de base de 2020. As emissões totais de carbono da empresa em 2022 foram 281.000 toneladas métricas CO2E.

Categoria de emissão	2022 emissões (toneladas métricas)
Escopo 1 emissões	126,450
Escopo 2 emissões	154,550
Emissões totais	281,000

Desenvolvimento de tecnologias ecológicas e soluções de aviação sustentável

A Divisão de Helicóptero Bell da Textron investiu US $ 87,2 milhões em pesquisa de tecnologia de aviação sustentável em 2022. O programa EVTOL (Electric Vertical Takeoff and Landing) recebeu US $ 235 milhões em financiamento para o desenvolvimento.

Iniciativa de aviação sustentável	Valor do investimento
P&D para tecnologias de aviação sustentável	US $ 87,2 milhões
Desenvolvimento do Programa EVTOL	US $ 235 milhões

Implementando processos de fabricação verde em instalações de produção

A Textron implementou processos de fabricação verde em 12 de suas 22 instalações de fabricação. A redução do consumo de água de 15% foi alcançada nessas instalações em 2022.

Métrica de fabricação verde	2022 Performance
Instalações com processos de fabricação verde	12 de 22
Redução do consumo de água	15%

Investir em tecnologias com eficiência energética e iniciativas de energia renovável

A Textron alocou US $ 42,5 milhões para tecnologias com eficiência energética em 2022. A Companhia assinou contratos de compra de energia renovável, cobrindo 35% de seu consumo total de energia.

Categoria de investimento energético	2022 Investimento/cobertura
Investimento em tecnologias com eficiência energética	US $ 42,5 milhões
Acordos de compra de energia de energia renovável	35% do consumo total de energia

Textron Inc. (TXT) - PESTLE Analysis: Social factors

You're looking at how public perception, labor dynamics, and workforce needs are shaping Textron Inc.'s operational landscape as we move through 2025. The social environment is a mixed bag right now: some major internal friction has been resolved, but the pressure to deliver on sustainability and attract high-tech talent is only ramping up.

Labor relations risk remains following past production disruptions from a strike at Textron Aviation

The specter of labor unrest definitely lingers after the significant work stoppage at Textron Aviation in late 2024. Union members with IAM Local 774 ended their strike in October 2024 after ratifying a new five-year contract. This agreement was crucial, but the disruption cost the company in the short term, with Textron Aviation deliveries falling year-over-year in Q4 2024 due to the production halt. To be fair, the new contract provides wage stability, including a 31 percent General Wage Increase (GWI) over the life of the contract, with a 4% increase scheduled for 2025. The key action now is maintaining this peace; any future negotiation cycle will be watched closely.

Increased customer demand for carbon footprint mitigation led to the launch of the SustainableAdvantage carbon offset program

Customer focus on environmental impact is translating directly into new program offerings. Textron Aviation launched the SustainableAdvantage carbon offset program in collaboration with 4AIR in January 2024, allowing owners of Cessna, Beechcraft, and Hawker turbine aircraft to offset their emissions. This aligns with Textron Inc.'s broader, enterprise-wide sustainability targets, which are set to be met by the end of fiscal year 2025. The company is pushing hard to meet these near-term goals, which is a direct response to market sentiment.

Here's a quick look at Textron Aviation's key 2025 sustainability targets:

Metric	2025 Goal	Status Context
Greenhouse Gas Emissions Reduction	20% Reduction	Enterprise-wide five-year goal
Energy Consumption Reduction	10% Reduction	Enterprise-wide five-year goal
Water Usage Reduction	10% Reduction	Enterprise-wide five-year goal
Waste Generation Reduction	10% Reduction	Enterprise-wide five-year goal

What this estimate hides is the actual progress toward these 2025 targets, which will only be fully clear in the 2025 year-end reports.

Corporate responsibility focus is high, with employees completing over 137,999 hours of ethics and compliance training

Earning and keeping stakeholder trust is non-negotiable, and Textron reinforces this through mandatory training. The company's ethics and compliance program, guided by the Business Conduct Guidelines, is a long-standing pillar of its governance structure. The Board of Directors even revised its Corporate Governance Guidelines effective in October 2025. We are seeing significant investment in this area; reports indicate employees completed over 137,999 hours of ethics and compliance training, underscoring a commitment to preventing noncompliant behavior across the organization.

The company must attract specialized talent for next-gen programs like eVTOL and digital flight controls

The future of Textron, especially through Bell and Textron eAviation, hinges on securing engineers for advanced projects like electric vertical take-off and landing (eVTOL) and sophisticated flight controls. This means competing for specialized talent in areas like embedded system development, system architecture design, and system integration. Bell Textron Inc., for instance, is actively recruiting for roles like Flight Control Systems Engineer, preferring candidates with degrees in Electrical, Computer, or Aerospace Engineering. Bell's recent announcement of six new helicopter orders in Europe in late 2025 shows the demand for these vertical-lift solutions is real, meaning the talent pipeline needs to be robust now.

The talent acquisition focus should center on:

• Recruiting for digital flight control expertise.
• Attracting engineers for sustainable propulsion.
• Securing talent for Bell's next-gen platforms.
• Leveraging the expertise gained from the Pipistrel acquisition.

If onboarding for these specialized roles takes longer than, say, 16 weeks, the delay in critical program milestones could become a real issue.

Finance: draft 13-week cash view by Friday

Textron Inc. (TXT) - PESTLE Analysis: Technological factors

You're looking at Textron's tech roadmap, and honestly, it's a mixed bag of near-term pivots and long-term heavy lifting. The big takeaway for 2025 is that while some advanced programs are hitting expected speed bumps, the core defense and business aviation modernization efforts are showing real, tangible progress. We need to watch where they are putting their money, which seems to be heavily weighted toward defense modernization and digital engineering right now.

For context on investment, Textron's Research and Development Expenses for the twelve months ending September 30, 2025, hit $503M, which is a solid 34.13% increase year-over-year. That kind of spending jump tells you they are serious about future product pipelines, even if the timelines shift a bit.

Textron eAviation's Nexus eVTOL Demonstrator Status

The electric vertical takeoff and landing (eVTOL) space is moving fast, but Textron eAviation has taken a pragmatic step back on its Nexus demonstrator. Despite earlier plans for initial flight tests in 2025, the company confirmed in mid-2025 that there will be no flight this year as they refocus engineers on other key programs like the Pipistrel Panthera and the Nuuva V300 drone. This pause reflects the complexity of eVTOL certification, pushing the entry into service target closer to 2030. Still, the underlying tech is there; the aircraft is designed as a zero-emission vehicle for one pilot and up to four passengers, with an estimated range of 43nm to 52nm based on current battery technology.

Gen3 Family of Light Jets Development

Textron Aviation is pushing forward with its next-generation business jets, the Cessna Citation Gen3 family, which were unveiled in late 2024. These aren't just paint jobs; they feature the next-generation Garmin G3000 PRIME avionics suite and standard Garmin Emergency Autoland technology. The rollout is staggered, though; the CJ4 Gen3 is slated to enter service in 2026, with the M2 Gen3 and CJ3 Gen3 following in 2027. It's a clear move to keep their light jet segment competitive, focusing on pilot confidence and passenger experience.

Here's a quick look at the specs they are promising for these new models:

Model	Expected Service Entry	Max Range (nm)	Max Payload (lbs)
Citation CJ4 Gen3	2026	2,165 nm	2,200 pounds
Citation CJ3 Gen3	2027	2,040 nm	2,135 pounds
Citation M2 Gen3	2027	1,550 nm	1,510 pounds

What this estimate hides is that the actual entry into service dates can slip, defintely, especially with complex avionics integration.

Bell's Digital Engineering for the MV-75 (FLRAA) Program

Bell is going all-in on digital engineering for the high-stakes Future Long Range Assault Aircraft (FLRAA) contract. They delivered the first of two MV-75 virtual prototypes (VP) to the U.S. Army in June 2025. This VP is essentially a digital twin, allowing engineers and soldiers to test and refine everything from software to tactics before the physical hardware is complete. This digital-first approach is key to accelerating the timeline, which aims for prototype delivery in FY27 and production starting in FY28. The MV-75 is designed to nearly double the speed and range of the current fleet, fundamentally changing long-range assault capability.

Involvement in Future Defense Technology Competitions

Textron Systems is making serious headway in unmanned and robotic ground/air competitions, which is a major tech focus for the company. On the ground, Textron Systems' Ripsaw 3 ground robot secured a win in the U.S. Army's Robotic Combat Vehicle (RCV) competition in March 2025. This signals a strong position in the future of autonomous ground warfare.

For tactical air support, Textron Systems' Aerosonde HQ (MK 4.8 VTOL UAS) was delivered for developmental testing in April 2025 as part of the Future Tactical Unmanned Aircraft System (FTUAS) program. The Army was expected to make a production decision in the Fall of 2025, meaning this platform is right at a critical inflection point for large-scale fielding.

• RCV win: Ripsaw 3 selected for next phase.
• FTUAS competition: Aerosonde HQ in developmental testing.
• MOSA standard used across defense platforms.

Finance: draft 13-week cash view by Friday

Textron Inc. (TXT) - PESTLE Analysis: Legal factors

You're looking at how the rulebook impacts Textron's bottom line, and right now, the legal and regulatory landscape is definitely shifting things around. We need to focus on the concrete financial implications of compliance and litigation risk, not just the theory.

The updated 2025 cash flow outlook incorporates the impact of recently enacted U.S. tax legislation

The recent tax changes are already baked into Textron's guidance, which is a good sign for predictability. Management updated its full-year 2025 manufacturing cash flow before pension contributions to a range of $900 million to $1.0 billion, an increase of $100 million from the earlier forecast. This positive adjustment reflects the expected benefit from the recently enacted U.S. tax legislation, specifically The One Big Beautiful Bill Act, which became law on July 4, 2025. To be fair, this legislation is also expected to push the full-year adjusted effective tax rate up to between 20% and 21%. Here's the quick math: the initial 2025 outlook for that cash flow was only $800 million to $900 million.

Defense contract awards remain vulnerable to competitor protests, as seen with the past delay on the FLRAA program

Government contracts, especially the big ones, always carry the risk of a challenge from a losing bidder, even when Textron's Bell wins. We saw this play out with the Future Long-Range Assault Aircraft (FLRAA) program, which Bell won over the Sikorsky/Boeing team. While the Government Accountability Office (GAO) denied that protest back in April 2023, which let the MV-75 program move forward, it shows the process isn't immune to delays. The initial FLRAA award was worth up to $1.3 billion, and the full program is a multi-decade, multi-billion-dollar revenue stream. Any future major award faces this same legal hurdle, which can stall initial revenue recognition.

Strict compliance with U.S. export control regulations is critical for international defense sales and technology transfer

When Bell sells a helicopter overseas, like the recent $37.7 million contract for three 412 EPX aircraft via Foreign Military Sales, compliance isn't optional-it's existential. You have to navigate the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations (EAR) perfectly. A slip-up can mean seized shipments or, worse, suspension from government contracting. It defintely requires tight internal controls.

For Textron Systems suppliers, classification is key, determining if an item falls under the U.S. Munitions List (USML) or the Commerce Control List (CCL).

Regulatory Area	Governing Authority/Regulation	Potential Consequence for Non-Compliance
Defense Articles/Services Export	Department of State / ITAR	Loss of export privileges, up to $1.2M civil penalty per violation
Dual-Use Items Export	Dept. of Commerce / EAR (BIS)	Up to 20 years imprisonment and/or $1,000,000 in penalties
Supplier Certification	Supplier Product Classification Certificate	Inaccurate classification leading to improper licensing/transfer

Ongoing legal risk from product liability exposure across all aviation and industrial segments

Product liability is a standing risk for any manufacturer, and Textron explicitly flags it in its contingencies note. We saw this manifest in the Q2 2025 results where higher warranty costs specifically impacted the profit for the Textron Aviation segment. This isn't just about manufacturing defects; it covers everything from aircraft incidents to industrial equipment failures.

You need to watch the full spectrum of legal exposure Textron manages:

• Product liability claims across all segments.
• Disputes with suppliers and production partners.
• Patent and trademark infringement allegations.
• Claims related to commercial and financial transactions.

Finance: draft 13-week cash view by Friday.

Textron Inc. (TXT) - PESTLE Analysis: Environmental factors

You're looking at how Textron Inc. is handling the increasing pressure around environmental, social, and governance (ESG) issues, which is no longer a side project but a core driver of operational efficiency and investor appeal. Honestly, the aerospace and defense sector faces unique scrutiny here, but Textron is showing real traction.

Greenhouse Gas Emission Reduction

Textron has definitely moved the needle on its carbon footprint, hitting a major internal target ahead of schedule. As of their 2024 Corporate Responsibility Report, the company has already achieved a 33% reduction in greenhouse gas emissions when measured on an intensity basis (CO2-e/Revenue). This performance actually surpassed the internal goal set for the end of 2025, which was a 20% reduction goal. This wasn't just luck; it came from a mix of energy efficiency projects and buying cleaner power sources.

Here's the quick math on their 2024 emissions:

Metric	Value (2024)
GHG Emissions (Intensity Basis Reduction vs. Baseline)	33%
Energy Use Reduction (Intensity Basis vs. Baseline)	14%
Waste Generation Reduction (Intensity Basis vs. Baseline)	25%
Absolute Water Use Reduction (Intensity Basis vs. Baseline)	12%

What this estimate hides is that these intensity metrics are tied to revenue, so top-line growth can sometimes mask absolute emission changes, but the progress is clear.

Commitment to Renewable Energy Sources

A concrete step showing their commitment is how they power their major manufacturing hubs in the Midwest. Textron Aviation's facilities in Kansas are now powered by 100-percent renewable wind electricity. This was secured through a long-term agreement with Evergy, utilizing power from the Soldier Creek Wind Energy Center. This move significantly cuts down on their Scope 2 emissions, which are those tied to purchased electricity.

Also, across the enterprise in 2024, 43% of Textron's total electricity use globally came from renewable sources, which is a solid step toward their broader net-zero 2050 industry goal.

Product Design for Lower Emissions

The environmental focus isn't just on the factory floor; it's baked into the new jets rolling out. New commercial aircraft designs are explicitly prioritizing fuel efficiency to lower the operational carbon footprint for customers. For instance, the recently certified Cessna Citation Ascend business jet is equipped with Pratt & Whitney Canada PW545D engines designed to deliver improved fuel efficiency. Similarly, the Beechcraft Denali turboprop program, which is on track for certification in 2025, is part of this push for more efficient platforms.

These new designs help customers meet their own sustainability targets. It's a smart feedback loop, really.

Advancing Sustainable Aviation Fuel (SAF) Adoption

Textron is actively supporting the use of Sustainable Aviation Fuel (SAF) for its turbine aircraft customers, which is crucial for decarbonizing flight operations. Bell Textron Inc., a subsidiary, has made significant progress here; their Bell 505 helicopter has surpassed 700 flight hours using blended SAF at the Bell Training Academy since mid-2022.

For Textron Aviation customers, the commitment is practical:

• New BEECHCRAFT Turboprop customers get SAF in their initial tank.
• New CESSNA Turboprop and CITATION jet customers receive SAF on delivery.
• The Wichita Service Center offers SAF as part of standard customer service.

The collaboration with Safran Helicopter Engines on the Bell 505 is paving the way, with Safran aiming for 100% drop-in SAF capability for its engines soon.

Finance: draft 13-week cash view by Friday.