Latest news with #CF34
Yahoo
10-07-2025
- Business
- Yahoo
GE Aerospace Secures Deal From SkyWest to Supply CF34 Engines
GE Aerospace GE recently secured a contract from SkyWest, Inc. SKYW to provide CF34-8E engines plus spares for the latter's recently ordered 60 Embraer 175 regional CF34 engine is a proven platform for its performance and reliability in SkyWest's entire fleet of more than 600 aircraft. It features an advanced, powerful and fully modular design and comes with several variants including CF34-3, -8C, -8E, -10A and -10E engines. With more than 11,000 units delivered globally, the CF34 engines have recorded more than 209 million flight hours and 165 million flight engines have an impressive track record of operational efficiency and durability, boast a dispatch reliability rate of 99.97% (12-month rolling) and can also operate on approved SAF fuel latest order is a testimony to the long-standing relationship between GE Aerospace and SkyWest, which has now become the single largest operator of GE's CF34 engines. SkyWest currently operates a strong GE-powered fleet that includes more than 1,200 CF34-3B, -8C and -8E engines. GE Aerospace currently carries a Zacks Rank #2 (Buy). The company has been witnessing strength in its businesses, driven by robust demand for commercial engines, propulsion and additive technologies. Rising U.S. & international defense budgets, positive airline & airframer dynamics and robust demand for commercial air travel augur well for the company. However, it has been dealing with high costs and expenses related to certain projects and restructuring activities, which are likely to affect its margins and profitability. Image Source: Zacks Investment Research In the past year, the company's shares have surged 51.1% compared with the industry's 17.2% Zacks Consensus Estimate for GE's 2025 earnings has inched up 0.2% in the past 60 days. A couple of other top-ranked stocks from the same space are discussed Aerospace HWM currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks delivered a trailing four-quarter average earnings surprise of 8.8%. In the past 60 days, the consensus estimate for Howmet's 2025 earnings has increased 0.9%.L3Harris Technologies LHX currently carries a Zacks Rank of 2. LHX delivered a trailing four-quarter average earnings surprise of 2.3%. In the past 60 days, the Zacks Consensus Estimate for L3Harris's 2025 earnings has inched up 0.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GE Aerospace (GE) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report L3Harris Technologies Inc (LHX) : Free Stock Analysis Report Howmet Aerospace Inc. (HWM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Canada News.Net
07-07-2025
- Business
- Canada News.Net
US lifts GE export ban amid easing of China trade restrictions
WASHINGTON, D.C.: The U.S. government has granted GE Aerospace permission to resume jet engine shipments to China's COMAC, a person familiar with the matter told Reuters, signaling a potential softening in trade tensions that have escalated under President Donald Trump's latest round of tariffs and restrictions. The license reinstatement comes after several weeks of curbs affecting a range of exports, including high-value aerospace components. GE was officially notified this week that it could restart engine deliveries. The move follows other U.S. concessions this week, including lifting restrictions on chip design software and ethane producers. While temporary, these steps suggest ongoing dialogue between the two countries despite their sharp trade rivalry. GE Aerospace did not respond to a request for comment, and the Commerce Department, which issued the notification, also declined to comment. The affected licenses include engines sold to China's state-owned aerospace manufacturer COMAC, which is developing aircraft to compete with Airbus ( and Boeing (BA.N) on the global stage. A Chinese Ministry of Commerce spokesperson welcomed the development: "Dialogue and cooperation are the right path forward, while threats and coercion lead nowhere," they said. "The U.S. should continue to meet China halfway." COMAC and the Chinese embassy in Washington did not respond to requests for comment. The initial restrictions were introduced after China imposed export controls on rare earths and magnets, key materials in global technology supply chains. That move was in retaliation for a new wave of U.S. tariffs announced by President Trump earlier this year. The license suspension lifted for GE covers its LEAP-1C engine, made for COMAC's C919 single-aisle aircraft, and its CF34 engine, used in the C909 regional jet, the person familiar with the matter said. The LEAP-1C is produced via a joint venture between GE Aerospace and France's Safran. Although the C919 is manufactured in China, many of its critical parts are sourced from overseas suppliers. At least one other aerospace company also had its license suspensions lifted on Thursday, another source said, without naming the firm. Honeywell, which supplies COMAC with an auxiliary power unit, flight control system, wheels, brakes, and navigation equipment, did not respond to a request for comment. Collins Aerospace, a unit of RTX, also declined to comment on its licensing status.
CNBC
04-07-2025
- Business
- CNBC
US lets GE restart jet engine shipments to China's COMAC, source says: Reuters
The U.S. told GE Aerospace Thursday that it can restart jet engine shipments to China's COMAC, according to a person familiar with the matter, in a further sign of de-escalating U.S.-Sino trade tensions that included concessions from Beijing over rare earths. The United States this week also lifted restrictions on exports to China for chip design software developers and ethane producers, suggesting trade talks between the two countries are moving forward. License suspensions and new license requirements on the different exports had been issued several weeks ago as part of the ongoing trade war between the world's two biggest economies. GE did not respond to an email request for comment, nor did the Commerce Department, which notified GE it could restart shipments. Licenses for GE Aerospace affect engines sold to China's state-owned aerospace manufacturer COMAC, which wants to compete internationally against dominant plane makers Airbus and Boeing. A spokesperson for the Chinese embassy in Washington did not immediately respond to a request for comment. The restrictions were among the many countermeasures imposed by U.S. President Donald Trump's administration in response to China's export restrictions on rare earths and related magnets in April. Beijing's move on rare earths, part of retaliation against Trump's earlier tariffs this year, has upended supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors. The issue threatened to scupper a bilateral trade deal. The license suspensions lifted for GE affect LEAP-1C engines to COMAC for its C919 single-aisle aircraft, and GE's CF34 engine for COMAC's C909 regional jet, according to the person familiar, who declined to be identified because they were not authorized to speak publicly. The LEAP 1-C engines are the product of a joint venture between GE Aerospace and France's Safran. The C919 is made in China but many of its components come from overseas. At least one other aerospace company also had its license suspensions for China lifted on Thursday, according to another person, who declined to identify the company. Honeywell Aerospace has supplied COMAC's C919, too, providing an auxiliary power system, wheels and brakes, flight control package, and navigation package. Honeywell did not return a request for comment. Collins Aerospace, a subsidiary of RTX, which also supplies components for COMAC, declined to comment on the status of its licenses. In recent weeks, the U.S. also suspended licenses for nuclear equipment suppliers to sell to China's power plants. U.S. nuclear equipment suppliers include Westinghouse and Emerson.
Business Times
03-07-2025
- Business
- Business Times
US lifts license suspensions for GE jet engines to China's COMAC
THE US Department of Commerce informed GE Aerospace on Thursday that it was once again allowed to ship jet engines to China's COMAC, lifting license suspensions issued several weeks ago, according to a person familiar with the matter. GE did not respond to an email request for comment, nor did the Commerce Department. The license suspensions were among a wide swathe of new restrictions imposed on US exports to China in recent weeks, as the trade war between the world's two biggest economies moved from retaliatory tariffs to disrupting each other's supply chains. Restrictions also have been lifted this week on other sectors, including chip design software and ethane, in a sign of further de-escalating trade tensions. The licenses for GE Aerospace affect engines for China's state-owned aerospace manufacturer COMAC, which is developing commercial planes to compete with dominant planemakers Airbus and Boeing. The licenses are to ship Leap-1C engines to COMAC for its C919 single-aisle aircraft, and GE's CF34 engine for COMAC's C909 regional jet, according to the person familiar, who declined to be identified because they were not authorised to speak publicly. The LEAP 1-C engines are the product of a joint venture between GE Aerospace and France's Safran. The C919 is made in China but many of its components come from overseas. Reuters could not immediately determine which other aerospace companies may have been affected by the Commerce Department's unwinding of restrictions. REUTERS
Business Journals
24-04-2025
- Business
- Business Journals
GE Aerospace to invest $16M in Durham despite tariff impacts
GE Aerospace has hundreds of workers in Durham an thousands across North Carolina. Story Highlights GE Aerospace plans $1 billion investment despite tariff impacts. Durham facility to receive $16 million for increased engine production. GE Aerospace employs 2,000 people across North Carolina. Despite significant impacts expected from tariffs, GE Aerospace still plans to invest $1 billion into its manufacturing operation, including in Durham. Tucked away near Research Triangle Park, GE Aerospace operates an airline engine manufacturing facility with 400 employees. It's one of just three GE Aerospace commercial engine assembly lines in the United States. And of that $1 billion planned investment, $16 million has been earmarked for the Durham site. Tariffs, however, are taking a toll on the bottom line. On an earnings call this week, H. Lawrence Culp, CEO of GE Aerospace, reiterated the company's commitment to investing in manufacturing. But he also told analysts tariff policy would 'result in additional costs for us and our supply chain.' The company, based in Cincinnati, will seek to save $500 million this year by cutting costs and raising prices. But GE Aerospace does not plan to pull back in Durham. Kristen Neubauer, Durham plant leader said in an email that, 'as demand grows, we'll continue to build capacity into our shop to meet that ramp for our customers.' The firm doesn't provide site specific numbers, but said it delivered a total of 1,900 engines last year. In Durham, that includes engine models for regional aircraft (CF34), narrow body aircraft (CFM56, LEAP) and wide body aircraft (CF8, GE90, GE9X, GEnx). The company recently confirmed plans to make major investments at the site, including new assembly systems that will increase capacity. Neubauer said the focus is on creating 'world class processes' to be ready to ramp up the LEAP engine and wide body 9X engine. The LEAP will power planes such as the Boeing 737 Max and the Airbus A320neo. The GE9X will power massive Boeing 777Xs. 'We have done a lot of work focused on improving safety, quality and delivery,' Neubauer said. GE Aerospace has 2,000 employees across the state. GE Aerospace's investment in Durham is part of a $100 million commitment across the company's entire North Carolina operation that also includes $13 million at its West Jefferson site and $20 million at a facility in Asheville that produces engine parts. The company also has operations in Wilmington. GE Aerospace is a collaborator in Honda Aero, which has a facility in Burlington that makes the engine for the HondaJet manufactured by Honda Aircraft Co. in Greensboro. North Carolina is getting a lot of attention in the aerospace sector, including from JetZero, a next-generation jet maker considering the Greensboro area for a 10,000-job manufacturing plant.
