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Safran (PA: SAF) believes the worst of the aviation crisis caused by COVID-19 has passed and plans to hire 12,000 people globally this year to rebuild capacity, according to the company’s chief executive, who spoke to a French newspaper. “Today air traffic is recovering, the placing of orders is dynamic, the tempo is increasing. The worst is behind us. I am very confident,” Olivier Andries told the Figaro.
“We are in the process of coming out of the crisis and we’ve decided to relaunch our hiring, with 12,000 hires planned in 2022, of which 3,000 will be in France,” he was quoted as saying. Safran is the world’s third-largest aerospace contractor, co-producing engines for Airbus and Boeing (NYSE:BA) aircraft with General Electric (NYSE: GE). When the COVID-19 pandemic struck, Safran, like most other players in the sector, reduced capacity and laid off some employees in response to a sharp drop in airline orders.