Frances's Safran sees Q1 sales down 5%, engine deliveries continue

PARIS, March 27 (Reuters) - France's Safran expects revenues to fall about 5% in the first quarter and has expanded cost-reduction efforts after suspending its 2020 outlook and scrapping its dividend to preserve cash, Chief Executive Philippe Petitcolin said.

The full impact of the coronavirus crisis began to be felt from around mid-March, pointing to steeper revenue declines in coming weeks, notably in the aftermarket for aircraft spares and parts, he told reporters in a conference call.

Safran, which co-produces engines with General Electric , continues to deliver aircraft engines as planned to planemakers Airbus and Boeing, Petitcolin said. (Reporting by Tim Hepher; Editing by Edmund Blair)