Welcome to our dedicated page for GE Aerospace news (Ticker: GE), a resource for investors and traders seeking the latest updates and insights on GE Aerospace stock.
GE Aerospace, a segment of General Electric Company (NYSE: GE), is a global leader in the design, manufacture, and service of aircraft engines. Founded in 1892 and headquartered in Boston, GE has a rich history tied to American inventor Thomas Edison. While GE operates in multiple industries including power, renewable energy, digital industry, and additive manufacturing, GE Aerospace remains its core business.
With nearly 70,000 commercial and military engines installed worldwide, GE Aerospace generates significant revenue from the recurring service and maintenance of these engines. The company's partnership with Safran in their CFM joint venture further solidifies its leadership in aerospace propulsion.
Recent achievements for GE Aerospace include significant deals and technological advancements. Notably, GE Aerospace retained its portfolio of intellectual property related to aerospace and defense technologies after a definitive agreement with Dolby Laboratories to acquire GE Licensing. This acquisition, valued at $429 million and expected to close by the end of fiscal year 2024, highlights GE Aerospace's focus on its core aerospace and defense markets.
In another major development, GE Vernova's Onshore Wind business, a part of GE's power and renewable energy segment, announced a landmark deal with Pattern Energy. This deal involves the supply of 674 wind turbines for the SunZia Wind project, set to be the largest wind project in the Western Hemisphere. This project is a testament to GE's commitment to renewable energy and showcases its ability to deliver large-scale, high-efficiency projects.
Moreover, GE Aerospace continues to innovate with products like the 3.6-154 wind turbine, which incorporates advanced AI-trained blade manufacturing processes. This turbine is built to meet U.S. market needs and is part of GE's strategy to drive quality and reliability across its fleet.
Financially, GE Aerospace is robust, leveraging its longstanding expertise and extensive global network to maintain a strong market position. The company's continuous investments in technology, such as the new manufacturing assembly line for its Onshore Wind business in Schenectady, New York, reflect its commitment to enhancing American manufacturing and supporting climate change goals.
GE Aerospace's mission to define the future of flight and bring innovative solutions to the aerospace and defense sectors is backed by its substantial workforce of 52,000 employees globally. The company's operations aim to provide affordable, reliable, sustainable, and secure energy solutions, reinforcing its leadership in the industry.
GE Digital announced that Lineas Aereas Suramericanas (LAS) Cargo has contracted its Electronic Flight Operation Quality Assurance (eFOQA) solution to enhance safety compliance in Colombia. eFOQA enables airlines to automate data processes, improve safety performance, and reduce costs by analyzing flight data. The system also aids in minimizing carbon footprints through fuel analytics. GE Digital aims to support LAS Cargo in achieving safer and more efficient operations as part of a long-term partnership.
AerCap Holdings N.V. (NYSE: AER) reported significant transactions in Q1 2021, including lease agreements for 60 aircraft (28 widebody and 32 narrowbody). The company purchased 1 Embraer E2 and executed sales for 9 aircraft from its portfolio, comprising various models like Airbus and Boeing. AerCap issued $1 billion in 5-year senior unsecured notes at a 1.75% coupon and agreed to acquire GE Capital Aviation Services (GECAS) for $28.4 billion through multiple credit agreements.
GE Healthcare has launched the Venue Fit™, a compact and portable point-of-care ultrasound (POCUS) system, along with an innovative AI tool for cardiac imaging. Designed for efficiency in tight spaces, Venue Fit caters to increasing clinical demands, particularly during the ongoing COVID-19 pandemic, where there are over 127 million cases globally. Demand for its existing Venue Go system surged fivefold in 2020. New AI features, including RealTime EF and Lung Sweep, enhance diagnostic capabilities, aiming to improve workflow efficiency and patient outcomes.
GE Healthcare has launched the Vscan Air™, a wireless pocket-sized ultrasound device that offers high-quality imaging and whole-body scanning capabilities. This innovative tool is designed for ease of use, allowing clinicians to quickly perform examinations and triage patients, especially critical cases, directly at the bedside. The Vscan Air is noted for its intuitive user interface and portability, enabling clinicians to enhance patient care efficiently. With over 30,000 existing Vscan systems impacting more than 50 million patients globally, this launch reinforces GE Healthcare's commitment to advancing medical technology.
AerCap Holdings N.V. (NYSE: AER) has announced its definitive agreement to acquire 100% of GE Capital Aviation Services (GECAS) from General Electric (NYSE: GE). The transaction is valued at $24 billion in cash, plus $1 billion in AerCap notes, and will issue 111.5 million shares to GE, resulting in GE holding approximately 46% of the combined company. This acquisition will create a leading aviation leasing platform, enhancing cash flows and profitability. The transaction is expected to close in Q4 2021, pending regulatory and shareholder approvals.
GE (NYSE:GE) has outlined its 2021 outlook, focusing on growth and financial stability. The company anticipates GE Industrial revenues to grow organically in the low-single-digit range with an adjusted profit margin expansion of over 250 basis points. Adjusted earnings per share are projected between $0.15 and $0.25, and free cash flow is expected between $2.5 billion and $4.5 billion. Additionally, GE is simplifying operations by merging its GE Capital Aviation Services with AerCap Holdings, a move valued at over $30 billion. A reverse stock split is also proposed to adjust share count.
GE (NYSE:GE) announced a strategic combination of its GECAS business with AerCap Holdings N.V., marking a significant transformation towards a more focused industrial company. The deal, valued at over $30 billion, will provide GE with approximately $24 billion in cash and a 46% stake in the merged entity. This transaction aims to strengthen GE's financial position by reducing debt by $30 billion and enhancing operational simplicity. The new entity is set to become a leading global aviation lessor, leveraging expertise for growth while simplifying GE's operations to focus on its industrial core.
Altair has acquired Flow Simulator from GE Aviation, a software that enables flow, heat transfer, and combustion design simulations. This acquisition allows Altair to enhance its software capabilities, facilitating mixed fidelity simulations for various industries including automotive and renewable energy. The deal includes a memo of understanding for a long-term partnership to explore further innovations. With a focus on system-level design, this strategic engagement aims to expand Altair's market reach while optimizing complex thermal system models.
The Board of Directors of GE has declared a $0.01 per share dividend on its outstanding common stock, payable on April 26, 2021. Shareholders on record as of March 8, 2021 will receive this dividend, with an ex-dividend date set for March 5, 2021. This decision underscores GE's commitment to returning value to its shareholders while continuing to operate as a leader in building a world that works efficiently and reliably.
GE Digital and Teradata have launched a new software solution, Flight Data Link, designed to integrate aviation-specific data with Teradata Vantage, a cloud analytics platform. This solution aims to help airlines accelerate their digital transformation by reducing operational costs and enhancing insights from customer, maintenance, and supply chain data. By merging flight data from GE's Event Measurement System with Vantage, airlines can perform complex analyses across multiple flights, ultimately driving efficiency and improving predictive maintenance capabilities.
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