GE Aviation to Secure Over $35 Billion in Engines, Services Deals -Boss

Date : 06/17/2019 @ 9:03AM
Source : Dow Jones News

GE Aviation to Secure Over $35 Billion in Engines, Services Deals -Boss

   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.


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