Latest news with #Boeing777-9
CNBC
3 days ago
- Business
- CNBC
GE Aerospace CEO sees supply chain improvements despite tariff hit
GE Aerospace's CEO said on Wednesday he is seeing supply chain improvements that will support an expected 15% to 20% increase in deliveries this year of jet engines used on popular narrowbody aircraft, after snags challenged deliveries in 2024. CEO Larry Culp also told the Bernstein Strategic Decisions conference that the engine maker pledged to be "completely in sync" with customer Boeing, as the U.S. planemaker gradually grows production of its strong-selling 737 MAX to a monthly rate of 38 and possibly above this year. GE Aerospace, however, is still expecting a hit of more than $500 million from tariffs due to a U.S.-led trade war. GE Aerospace holds a strong position in the narrowbody jet engine market through its partnership with France's Safran, which produces the LEAP engine used by both Boeing and European planemaker Airbus. While the U.S. market has seen some turbulence in domestic travel due to economic uncertainty, about 70% of GE's commercial engine revenue is driven by parts and services which remain in demand as older planes fly longer. Earlier this month, GE Aerospace signed an agreement with Qatar Airways to supply more than 400 engines to power the airline's next-generation Boeing 777-9 and 787 aircraft. Helped by internal changes, Culp said GE saw a double-digit increase in deliveries from critical suppliers in April and May, with some delivering twice as much as they were doing a year ago. "We're getting more and we're getting more in a predictable fashion," Culp said. Supply chain challenges, nevertheless, continue to dog plane production as Boeing and Airbus manufacture more jets, with no one particular bottleneck to blame. "A lot of people say, what's the one thing you need to solve for? I wish it was just one thing, right? It's 1,000 and it changes," Culp said. Culp added that he is working alongside Boeing CEO Kelly Ortberg on GE's imminent engine deliveries, and how those will step up in line with Boeing in 2026 and in 2027. Boeing has engines in its inventory after output of its strongest-selling 737 MAX slumped last year due to a quality crisis. "They're working their way through that inventory," Culp said of Boeing. "We want to make sure that we are completely in sync with them as we move forward." GE Aerospace is holding its investor day at the world's largest air show in Paris on June 17.
New Indian Express
19-05-2025
- Business
- New Indian Express
Qatar Airways reports record $2 billion annual profit
DOHA: Qatar Airways posted a 28 percent jump in annual net profit to a record $2.15 billion on Monday, days after sealing a major Boeing deal during US President Donald Trump's visit. "These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group," said the state-owned carrier's chief executive, Badr Mohammed Al-Meer. Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said. "We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events," Al-Meer added in his statement. In Doha during a multi-stop tour of the Gulf last week, Trump hailed a "record" Qatar Airways order for 160 planes from Boeing as he signed a number of deals alongside Qatar's emir. The White House later said Qatar Airways would honour a "$96 billion agreement to acquire up to 210 American-made Boeing 787 Dreamliner and 777X aircraft powered by GE Aerospace engines". The order is comprised of 130 Dreamliner planes and 30 Boeing 777-9 jets, which are still being certified by the US Federal Aviation Administration. The order also includes options for 50 additional 787 and 777X planes, Boeing and Qatar Airways said in statements. In February, Australian authorities approved a Qatar Airways acquisition of a 25 percent stake in troubled airline Virgin Australia, injecting foreign competition into the country's aviation sector dominated by national carrier Qantas. In August last year, Qatar Airways acquired a 25 percent stake in Airlink, an independent Southern African carrier. In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.
The Herald Scotland
16-05-2025
- Business
- The Herald Scotland
British Airways owner confidence in long-haul flights with big move
While the airline group noted these new aircraft are 'mainly for replacement', as it revealed the orders this morning, it added that around one-third are for 'growth in IAG's core markets'. IAG has today ordered 21 Airbus A330-900neo aircraft and 32 Boeing 787-10 planes for delivery from 2028 to 2033 for its 'medium-term long-haul fleet requirements'. In addition to this, it revealed today that it had exercised options for six Airbus A350-900 aircraft for Iberia, six Airbus A350-1000 planes for British Airways and six Boeing 777-9 aircraft for British Airways. IAG reported that it made operating profit before exceptional items of €198 million in the three months to March 'as strong revenue growth and a lower fuel price offset expected cost increases', up by €130 million from €68m in the first quarter of last year. Operating margin increased by 1.7 points to 2.8% Revenues in the first quarter were up by 9.6% on the same period of last year at €7.044 billion. IAG chief executive officer Luis Gallego seemed in upbeat form as he presented the results. He said: 'Our strong first-quarter results reflect the performance of our businesses and the effectiveness of our strategy and transformation. We continue to deliver on our industry-leading financial targets.' Mr Gallego added: 'We remain focused on strengthening our broad portfolio of market-leading brands across our core markets of the North Atlantic, Latin America and intra-Europe. We continue to see resilient demand for air travel across all our markets, particularly in the premium cabins and despite the macroeconomic uncertainty.' IAG revealed: 'Latin America and Europe continue to be strong and the North Atlantic demand has been robust, with strength in our premium cabin mitigating some recent softness in US point-of-sale economy leisure.' It declared that, as of May 6, it was 'around 80% booked for the second quarter, with revenue ahead of last year, and 29% booked for the second half, broadly in line with last year'. Aarin Chiekrie, equity analyst at stockbroker Hargreaves Lansdown, said: 'IAG has been delivering for both passengers and investors alike after landing a big profit beat in the first quarter. The group's market-leading networks, strong brands, and fierce operational focus continue to drive performance skyward. Profitability's also getting a helping hand from falling fuel costs.' He added: 'IAG shows no signs of slowing, and demand for its routes remains strong despite the current pressure on consumers' incomes. Tariffs had been weighing on sentiment towards the travel sector. But with 80% of flights for the second quarter already booked, the outlook is brighter than many expected. That's also given IAG the confidence to place orders for 53 new Airbus and Boeing aircraft, which will be delivered between 2028 and 2033, highlighting the group's confidence in the longer-term picture for the travel industry.'
Yahoo
15-05-2025
- Business
- Yahoo
Qatar Airways makes large GE order that will affect Terre Haute plant
TERRE HAUTE, Ind. (WTWO/WAWV)— Qatar Airways has made a deal with GE Aerospace to purchase over 400 engines, ones that will need parts from the Terre Haute site. The engines ordered are set to be used to power Qatar Airways' new Boeing 787 and 777X. This is the largest widebody engine order in GE Aerospace's history. The widebody engines will require combustor components from the Terre Haute site. GE Aerospace generates 55% of its revenue from engine sales and services to its international customers. 'Our latest agreement with GE Aerospace reflects our confidence in the performance of the GE9X and GEnx engines to power our fleet of Boeing 777-9 and 787 aircraft,' Qatar Airways Group Chief Executive Officer Engr. Badr Mohammed Al-Meer said. 'These next-generation engines are critical components in our strategy to ensure our fleet remains modern and efficient. Qatar Airways has ambitious plans for the future, and we value our continued partnership with GE Aerospace and their commitment to supporting our operational needs.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
15-05-2025
- Business
- Yahoo
GE Aerospace and Qatar Airways Strengthen Partnership with Agreement for 400+ GE9X and GEnx engines
The largest widebody engine deal in GE Aerospace history, supporting Qatar Airways' rapid expansion and driving economic growth in the Middle East DOHA, Qatar, May 14, 2025 /PRNewswire/ -- GE Aerospace (NYSE:GE) and Qatar Airways today announced a significant expansion of their long-standing partnership with the signing of multiple deals for new GE9X and GEnx engines during U.S. President Donald J. Trump's visit to Doha. As part of the visit, Qatar Airways has signed an agreement for more than 400 engines, including 60 GE9X and 260 GEnx engines, with additional options and spares, to power its next-generation Boeing 777-9 and Boeing 787 aircraft – the largest widebody engine purchase in the history of GE Aerospace. The new agreements solidify GE Aerospace's commitment to Qatar's thriving aviation industry and build on the previous order for 188 GE9X engines, bringing the total to 248 engines. The addition of GEnx engines for the Boeing 787 fleet supplements their existing 124 engine order, further strengthening the national carrier's commitment to efficiency and performance. The two deals also include service agreements to cover the maintenance, repair, and overhaul of the GEnx and GE9X engines. Qatar Airways Group Chief Executive Officer Engr. Badr Mohammed Al-Meer said: "Our latest agreement with GE Aerospace reflects our confidence in the performance of the GE9X and GEnx engines to power our fleet of Boeing 777-9 and 787 aircraft. These next-generation engines are critical components in our strategy to ensure our fleet remains modern and efficient. Qatar Airways has ambitious plans for the future, and we value our continued partnership with GE Aerospace and their commitment to supporting our operational needs." GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. said, "We are extremely honored to deepen our relationship with Qatar Airways and grateful to them for placing their trust in us with our largest ever widebody engine deal. Our widebody engines – the GE9X and GEnx – are marvels of modern engineering, with the durability and reliability to power flight across the longest distances. We appreciate President Trump's support for this historic agreement." The GE9X engine is the world's most powerful commercial aircraft engine and the most fuel-efficient engine in its class. Available only on the Boeing 777X family of 777-9 and 777-8 aircraft, the GE9X offers 10% better specific fuel consumption than its predecessor, the GE90-115B, with emissions that are a generation ahead in technology. Since its introduction in 2011, the GEnx engine family has accumulated over 62 million flight hours. It stands as GE Aerospace's fastest-selling, high-thrust engine to date, with more than 3,600 engines currently in service and backlog, including spare units. Today, the GEnx engine powers two-thirds of all 787 aircraft currently in operation. Like all GE Aerospace commercial engines, both GE9X and GEnx engines are certified to run on Sustainable Aviation Fuel (SAF) blends today. GE Aerospace's strong partnership with Qatar Airways also extends to providing comprehensive On Wing Support to ensure optimal engine performance and minimize downtime. At the On Wing Support Center in Qatar, GE Aerospace also trains aviation professionals, developing local talent to build a skilled workforce to support the region's aviation ambitions. About GE Aerospace GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 45,000 commercial and 25,000 military aircraft engines. With a global team of approximately 53,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow, and the future at About Qatar Airways A multiple award-winning airline, Qatar Airways won the 'World's Best Airline' for the unprecedented eighth time at the 2024 World Airline Awards, managed by the international air transport rating organization, Skytrax. Qatar Airways has been the World's Best Airline in 2011, 2012, 2015, 2017, 2019, 2021, 2022, and 2024. The airline continues to be synonymous with excellence, also taking home, 'World's Best Business Class', 'World's Best Business Class Airline Lounge', and 'Best Airline in the Middle East'. As leaders in industry innovation and digital adoption, Qatar Airways was also recently voted the 'World's Best Airline Website' by World Travel Tech Awards. Qatar Airways was the first Airline in the Middle East to be certified to the highest level of IATA's Environmental Assessment (IEnvA) program, based on recognised environmental management system principles (such as ISO 14001). As an inaugural signatory to the Buckingham Palace Declaration in March 2016, Qatar Airways became the first airline globally to be certified to the industry standard for the prevention of illegal wildlife trafficking in aviation. Qatar Airways currently flies to over 170 destinations worldwide, connecting through its Doha hub, Hamad International Airport, the 'World's Best Airport', as voted by Skytrax in 2021, 2022, and 2024. In 2024, Hamad International Airport also received the 'Best Airport in the Middle East' accolade for 10 consecutive years, as well as 'World's Best Airport Shopping' for the second year in a row. View original content to download multimedia: SOURCE GE Aerospace
