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Safran ready to expand cost-saving measures as crisis expands

FILE PHOTO: The Safran company logo is pictured at the company's logistic area in Colomiers near Toulouse

PARIS (Reuters) - French aerospace contractor Safran <SAF.PA> is preparing to expand planned cost-saving measures as the coronavirus crisis widens, Chief Executive Philippe Petitcolin said.

Safran said in February that to reach its annual forecasts it was targeting 300 million euros of cost savings and other belt-tightening measures to cope with the 737 MAX outage and the impact of the coronavirus on its China operations.

(Reporting by Tim Hepher; Editing by Jan Harvey)