This website uses cookies
More information
MEBAA (Middle East & North Africa Business Aviation Association)
MEBAA (Middle East & North Africa Business Aviation Association)
The monthly news publication for aviation professionals.

Why visit ACE ’24?

Related background information from the Handbook...

GE Aerospace

Engine Manufacturers

BAN's World Gazetteer

Ohio
The monthly news publication for aviation professionals.

Request your printed copy

GE Aerospace ready to trade on New York Stock Exchange
The launch of GE Aerospace represents the completion of GE's multi-year financial and operational transformation. Over the last several years GE has taken steps to significantly strengthen the business.

GE Aerospace has launched as an independent public company following the completion of its GE Vernova spin-off. GE Aerospace will trade on the New York Stock Exchange (NYSE) under the ticker GE. GE Aerospace and GE Vernova have rung the opening bell together at the NYSE.

GE Aerospace chairman and CEO H. Lawrence Culp Jr says: “With the successful launch of three independent, public companies now complete, today marks a historic final step in the multi-year transformation of GE. I am tremendously proud of our team, their resilience and their dedication to achieving this defining moment.

“Building on a century of learning and carrying forth GE's legacy of innovation, GE Aerospace moves forward with a strong balance sheet and greater focus to invent the future of flight, lift people up and bring them home safely. With Flight Deck, our proprietary lean operating model, as our foundation, I am confident we will realise our full potential in service of our customers, employees and shareholders.”

With an installed base of approximately 44,000 commercial engines and approximately 26,000 military and defence engines around the world, GE Aerospace launches as an established global leader in propulsion, services and systems. The company generated approximately $32 billion in adjusted revenue in 2023, with 70 per cent generated by services and the strong economics of the engine aftermarket.

At the company's investor day in March, GE Aerospace reaffirmed its 2024 guidance and presented a longer-term financial outlook, including expecting to achieve around $10 billion of operating profit in 2028. Additionally, GE Aerospace shared a capital allocation framework to invest in growth and innovation, while also returning approximately 70-75 per cent of available funds to shareholders.

The launch of GE Aerospace represents the completion of GE's multi-year financial and operational transformation. Over the last several years GE has taken steps to significantly strengthen the business, including more than $100 billion in debt reduction since 2018. Simultaneously, the company-wide implementation and adoption of lean and a relentless pursuit of continuous improvement in service of the customer, enabled a deep and sustainable shift in culture. This stronger foundation has enabled the successful creation of three independent companies; GE HealthCare, GE Vernova and GE Aerospace, each of which is now well-positioned to build upon GE's history of innovation.

Holders of GE common stock were entitled to receive one share of GE Vernova common stock for every four shares of GE common stock held. For United States federal income tax purposes, the distribution has been conducted in a tax-efficient manner for GE shareholders in the United States.

Other News
 
Nuvite launches Skyde Clear metal surface sealant
May 22, 2024
Joby starts hiring for latest Ohio factory
March 11, 2024
Sikorsky looks to future family of VTOL systems
February 28, 2024
The OEM is building a hybrid-electric demonstrator that will test electrification and autonomy for next-gen products.
Enstrom adds Airwolf lithium-ion battery as 480B option
February 28, 2024
480B pilots can now expect faster, cooler engine starts with a higher voltage for powerful starts. An automatic, built-in battery heater can keep them flying, even in bitterly cold weather.