GE Aviation to Secure Over $35 Billion in Engines, Services Deals -Boss
June 17 2019 - 4:03AM
Dow Jones News
By Robert Wall
LE BOURGET, France--General Electric Aviation should secure more
than $35 billion in engines and services deals, David Joyce, the
head of the General Electric's (GE) aviation unit said Monday.
The company should deliver more than 2,400 engines this year,
including more than 1,800 from its CFM International joint venture
with Safran SA (SAF.FR).
Mr. Joyce said he remains bullish on the commercial aviation
market even after the International Air Transport Association this
month cut airlines' collective profit forecast for 2019. The market
is strong, even if not as strong as last year, Mr. Joyce said.
Mr. Joyce said the company still hopes to fly its GE9X engine on
a Boeing Co. (BA) 777X jetliner this year. The flight trials have
been delayed as GE redesigns an engine component after the company
found durability issues during testing.
The part is undergoing ground testing, said Bill Fitzgerald,
head of GE's commercial engine business.
Mr. Joyce also said he felt no pressure to do a large deal in
response to plans between rival United Technologies Corp. (UTX) and
Raytheon Co. (RTN).
"I don't feel that this makes me any more anxious to do
something," he said, but he wouldn't rule out doing a deal if an
attractive opportunity arises.
Write to Robert Wall at robert.wall@wsj.com
(END) Dow Jones Newswires
June 17, 2019 03:48 ET (07:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.