GE Aerospace reports news on its aircraft engine, services, and systems business, including commercial engine orders, long-term service support, maintenance, repair and overhaul investments, and digital tools used in production, supply chain, and military aircraft readiness. Coverage includes customer selections for GEnx and other GE Aerospace or CFM-powered fleets, dividend declarations, workforce-training initiatives, and governance matters involving defense-related products.
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GE Healthcare announced its plans to launch the Edison Digital Health Platform, a vendor-agnostic digital health solution designed to improve healthcare delivery efficiency and reduce IT burdens. At HIMSS 2022, the company revealed that the platform aims to aggregate data from various sources, enabling better patient care management through enhanced analytics and AI tools. Collaboration with ecosystem participants is underway to evaluate the platform's functionality, which promises to facilitate seamless app integration and improve clinicians' workflow.
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Singapore Airlines (SIA) has placed an order for an additional 22 GE9X engines valued at $2.8 billion to power its Boeing 777-9 fleet. This order accompanies a 12-year GE TrueChoice™ services contract. With a total of 31 Boeing 777-9 aircraft on order, SIA is set to be the first airline in the Asia Pacific to operate this model. The GE9X engine boasts the highest pressure ratio of any commercial aircraft engine and is designed to operate efficiently with reduced emissions.
GE Healthcare has received approval from the European Medicines Agency for the use of its stress agent Rapiscan in additional imaging modalities. Previously used in SPECT MPI for adults, Rapiscan is now also approved for Magnetic Resonance Imaging (MRI), Computed Tomography (CT), and Positron Emission Tomography (PET). This approval allows Rapiscan to aid in diagnosing coronary artery disease in patients unable to exercise, enhancing diagnostic capabilities and patient experience.
The Board of Directors of GE has declared a $0.08 per share dividend on its outstanding common stock, payable on April 25, 2022. Shareholders of record as of March 8, 2022 will receive this dividend, with the ex-dividend date set for March 7, 2022.
This decision reflects the company's ongoing commitment to returning value to its shareholders while maintaining financial stability in the competitive industrial sector.
GE has signed an exclusive agreement with EDF for the acquisition of part of GE Steam Power's nuclear activities, enhancing EDF's position in the French nuclear sector. The transaction includes GE’s Arabelle steam turbines and related services, aiming to bolster nuclear power capabilities. GE retains its services-focused Steam Power business in the Americas and charges ahead with next-gen technology investments. The move is expected to close in the first half of 2023, pending regulatory approvals, but financial terms were not disclosed.
Qatar Airways has placed a significant order with GE for up to 50 Boeing 777-8 Freighters, which includes 30 GE9X engines and four GE90-115B engines. The total order value exceeds $6.8 billion, encompassing spare engines and GE TrueChoice™ services for maintenance and overhaul. This partnership underlines Qatar Airways' commitment to expanding its cargo operations while focusing on sustainability. The GE9X engine is touted as the most powerful and fuel-efficient turbofan, designed to lower emissions and support the airline’s green initiatives.
GE Aviation has partnered with SmartSky Networks and Mosaic ATM to advance Flight Management Systems (FMS) for Advanced Air Mobility (AAM) under a NASA Innovation Award. This collaboration aims to connect airborne and cloud-based FMS, improving airspace management and safety. TrueCourse, GE's new FMS, will enhance real-time data inputs and processing, contributing to efficient air traffic management and environmental sustainability. The initiative is set to facilitate the introduction of more aircraft into the airspace in the coming years.
GE has appointed Scott Reese as the new CEO of GE Digital, effective February 22, 2022, succeeding Patrick Byrne. Reese, previously with Autodesk, brings extensive experience in product development and growth strategies. His leadership is expected to enhance GE Digital's role in the upcoming energy company spin-off planned for 2024. Scott Strazik, CEO of GE's global energy business, expressed confidence in Reese's capabilities to drive digital transformation and decarbonization initiatives.