General Electric's multi-billionaire deals
General Electric (GE) emerges as the winner of the 53rd International Monetary Aviation Show. The company's airline company, which manufactures aircraft engines, has secured many-billion-dollar deals. On June 20, the company announced that CFM International, a joint venture between GE Aviation and the French Safran Aircraft Engines, ended the show with new $ 55 billion worth of orders.
The multi-billion aviation deal has violated GE Aviation's previous record. The previous record was $ 31 billion in the Paris Air Show in 2017. The new deals were higher than the management's expectations. In an interview with CNBC, GE Aviation CEO David Joyce said he expects to receive $ 35 billion worth of deals at the event. of the value of the transactions. Boeing has signed contracts worth nearly $ 34 billion while Airbus has secured $ 44 billion in trades
GE Aviation has ordered large orders for its LEAP 1A engines. IndiGo, an Indian low-cost airline, signed an agreement for 280 LEAP 1A engines to power Airbus A320neo and A321neo aircraft. The deal is expected to be worth $ 20 billion on a price list. AirAsia has agreed to buy 200 of the same engines for $ 23.1 billion
Amazon (AMZN) has signed an agreement to lease 15 Boeing 737-800 aircraft from GE Capital Aviation Services – part of GE Aviation. It is believed that this move is the company's latest strategy to expand its air supply network after FedEx (FDX) expelled it from its freight service. On June 9, FedEx announced that it would not renew its deal with Amazon for Express Express's internal delivery for the latter's packages. , ITA invests in companies involved in the production, installation and distribution of aerospace and defense equipment. ITA made a remarkable mileage with a profit of 24.9% in 2019. ITA surpassed the Dow Jones and S & P 500, which rose by 14.7% and 17.8%, respectively.