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Calgary Herald
23-06-2025
- Business
- Calgary Herald
'Prime location': New aviation hub lands at Calgary International Airport
A hub for aviation technology and infrastructure at Calgary's airport is targeting world-class support services and training for the industry. Article content Formation of the hub, called YYC AeroNex, comes as labour shortages are expected in Canada's aviation sector over the next decade, brought on by industry growth and an aging workforce. Article content Making up a portion of hundreds of millions in new investment into the Calgary International Airport, the YYC AeroNex hub will keep more components of the aviation industry in the city. Article content Article content 'We're not having to send these engines thousands of miles away, waiting months and months for them to come back . . . the turnaround times are a lot quicker,' Bachart told Postmedia on Monday. Article content Calgary Airports is responsible for the management, development, and operation of the Calgary International Airport and Springbank Airport. Article content YYC AeroNex will include four major projects, of which three have yet to be announced. A total of $344 million will be contributed to the program, with funding split between the Canada Infrastructure Bank and loans from commercial banks. Article content Article content Article content A groundbreaking ceremony is scheduled for Wednesday for the Lufthansa project, which is expected to open in 2027. Article content Once complete, it will provide maintenance, repair and overhaul services, and serve as a test facility for Leap 1A and 1B engines for Boeing 737 MAX and Airbus 320neo aircraft.
Al Jazeera
22-04-2025
- Business
- Al Jazeera
GE Aerospace CEO calls for tariff-free trade in the aviation sector
GE Aerospace CEO Larry Culp has advocated re-establishing a tariff-free regime for the aerospace industry under the 1979 Agreement on Trade in Civil Aircraft during a meeting with United States President Donald Trump. On Tuesday, in an interview with the news agency Reuters, Culp said the company's position was 'understood' by the administration, adding that the zero-duty regime has helped the US aerospace industry to enjoy a $75bn annual trade surplus. 'I have argued that it was good and would be good for the country,' Culp told Reuters. Trump's trade war has created the biggest uncertainty for the aerospace industry since the COVID-19 pandemic. It has also led to a breakdown in the industry's decades-old duty-free status, putting aircraft deliveries in limbo. The uncertainty has left some of GE Aerospace's customers struggling to accurately forecast their business. Meanwhile, one of the company's prominent suppliers, Howmet Aerospace, has warned that it may halt some shipments if they are impacted by tariffs. Culp said the company has not seen any disruption in deliveries from Howmet. The Pittsburgh-based supplier is currently working on the new high-pressure turbine blade for the Leap 1A engine, which GE Aerospace produces in a joint venture with France's Safran SA. 'That ramp has gone very well so far here in 2025,' he said. GE Aerospace has been grappling with supply chain challenges, leading to a drop in engine deliveries over the past year. Last week, Airbus said it was facing challenges with engine deliveries as CFM was 'significantly behind the curve'. Culp said the company is 'well aligned' with the European planemaker's needs for this year, but added the tariffs have created supply chain risks. Tariffs are estimated to cost GE Aerospace more than $500m this year. The company is making greater use of foreign trade zones and available trade programmes like duty drawbacks to mitigate the impact. It is also employing cost controls and a tariff surcharge to protect its margins. Culp's comments come amid pressure on another aerospace giant in recent days. Last week, China asked airlines based there to cancel aircraft orders for planes made by US company Boeing amid the looming trade war. Trade-induced economic uncertainty has taken a toll on travel demand as well. With travel spending softening, there is a growing risk that airlines could start deferring their engine orders. Culp said other carriers would step in if any airline decides to halt its deliveries. 'There are plenty of other people who will step up in line and take their place,' he said.
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Business Standard
22-04-2025
- Business
- Business Standard
GE Aerospace CEO Culp advocates tariff-free regime for aviation industry
GE Aerospace CEO Larry Culp said on Tuesday he advocated re-establishing a tariff-free regime for the aerospace industry under the 1979 Civil Aircraft Agreement when he met with U.S. President Donald Trump. In an interview with Reuters, Culp said the company's position was "understood" by the administration, adding that the zero-duty regime has helped the U.S. aerospace industry to enjoy a $75 billion annual trade surplus. "I have argued that it was good and would be good for the country," Culp told Reuters. Trump's trade war has created the biggest uncertainty for the aerospace industry since the COVID pandemic. It has also led to a breakdown in the industry's decades-old duty-free status, putting aircraft deliveries in limbo. The uncertainty has left some of GE Aerospace's customers struggling to accurately forecast their business. Meanwhile, one of its prominent suppliers Howmet Aerospace has warned that it may halt some shipments if they are impacted by tariffs. Culp said the company has not seen any disruption in deliveries from Howmet. The Pittsburgh-based supplier is currently working on the new high-pressure turbine blade for the Leap 1A engine, which GE Aerospace produces in a joint venture with France's Safran SA. "That ramp has gone very well so far here in 2025," he said. GE Aerospace has been grappling supply chain challenges, leading to a drop in engine deliveries over the past year. Last week, Airbus said it was facing challenges with engine deliveries as CFM was "significantly behind the curve." Culp said the company is "well aligned" with the European planemaker's needs for this year, but added the tariffs have created supply chain risks. Tariffs are estimated to cost GE Aerospace more than $500 million this year. The company is making greater use of foreign trade zones and available trade programs like duty drawbacks to mitigate the impact. It is also employing cost controls and a tariff surcharge to protect its margins. Trade-induced economic uncertainty has taken a toll on travel demand as well. With travel spending softening, there is a growing risk airlines could start deferring their engine orders. Culp said other carriers would step in if any airline decides to halt its deliveries. "There are plenty of other people who will step up in line and take their place," he said.
Yahoo
22-04-2025
- Business
- Yahoo
GE Aerospace CEO Culp advocates tariff-free regime for aviation industry
By Rajesh Kumar Singh CHICAGO (Reuters) -GE Aerospace CEO Larry Culp said on Tuesday he advocated re-establishing a tariff-free regime for the aerospace industry under the 1979 Civil Aircraft Agreement when he met with U.S. President Donald Trump. In an interview with Reuters, Culp said the company's position was "understood" by the administration, adding that the zero-duty regime has helped the U.S. aerospace industry to enjoy a $75 billion annual trade surplus. "I have argued that it was good and would be good for the country," Culp told Reuters. Trump's trade war has created the biggest uncertainty for the aerospace industry since the COVID pandemic. It has also led to a breakdown in the industry's decades-old duty-free status, putting aircraft deliveries in limbo. The uncertainty has left some of GE Aerospace's customers struggling to accurately forecast their business. Meanwhile, one of its prominent suppliers Howmet Aerospace has warned that it may halt some shipments if they are impacted by tariffs. Culp said the company has not seen any disruption in deliveries from Howmet. The Pittsburgh-based supplier is currently working on the new high-pressure turbine blade for the Leap 1A engine, which GE Aerospace produces in a joint venture with France's Safran SA. "That ramp has gone very well so far here in 2025," he said. GE Aerospace has been grappling supply chain challenges, leading to a drop in engine deliveries over the past year. Last week, Airbus said it was facing challenges with engine deliveries as CFM was "significantly behind the curve." Culp said the company is "well aligned" with the European planemaker's needs for this year, but added the tariffs have created supply chain risks. Tariffs are estimated to cost GE Aerospace more than $500 million this year. The company is making greater use of foreign trade zones and available trade programs like duty drawbacks to mitigate the impact. It is also employing cost controls and a tariff surcharge to protect its margins. Trade-induced economic uncertainty has taken a toll on travel demand as well. With travel spending softening, there is a growing risk airlines could start deferring their engine orders. Culp said other carriers would step in if any airline decides to halt its deliveries. "There are plenty of other people who will step up in line and take their place," he said. Sign in to access your portfolio
Reuters
22-04-2025
- Business
- Reuters
GE Aerospace CEO Culp advocates tariff-free regime for aviation industry
CHICAGO, April 22 (Reuters) - GE Aerospace (GE.N), opens new tab CEO Larry Culp said on Tuesday he advocated re-establishing a tariff-free regime for the aerospace industry under the 1979 Civil Aircraft Agreement when he met with U.S. President Donald Trump. In an interview with Reuters, Culp said the company's position was "understood" by the administration, adding that the zero-duty regime has helped the U.S. aerospace industry to enjoy a $75 billion annual trade surplus. "I have argued that it was good and would be good for the country," Culp told Reuters. Trump's trade war has created the biggest uncertainty for the aerospace industry since the COVID pandemic. It has also led to a breakdown in the industry's decades-old duty-free status, putting aircraft deliveries in limbo. The uncertainty has left some of GE Aerospace's customers struggling to accurately forecast their business. Meanwhile, one of its prominent suppliers Howmet Aerospace (HWM.N), opens new tab has warned that it may halt some shipments if they are impacted by tariffs. Culp said the company has not seen any disruption in deliveries from Howmet. The Pittsburgh-based supplier is currently working on the new high-pressure turbine blade for the Leap 1A engine, which GE Aerospace produces in a joint venture with France's Safran SA ( opens new tab. "That ramp has gone very well so far here in 2025," he said. GE Aerospace has been grappling supply chain challenges, leading to a drop in engine deliveries over the past year. Last week, Airbus said it was facing challenges with engine deliveries as CFM was "significantly behind the curve." Culp said the company is "well aligned" with the European planemaker's needs for this year, but added the tariffs have created supply chain risks. Tariffs are estimated to cost GE Aerospace more than $500 million this year. The company is making greater use of foreign trade zones and available trade programs like duty drawbacks to mitigate the impact. It is also employing cost controls and a tariff surcharge to protect its margins. Trade-induced economic uncertainty has taken a toll on travel demand as well. With travel spending softening, there is a growing risk airlines could start deferring their engine orders. Culp said other carriers would step in if any airline decides to halt its deliveries. "There are plenty of other people who will step up in line and take their place," he said.
