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GE Aerospace Enters Into Services Contract With Silk Way West Airlines
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Key Takeaways
{\"0\":\"GE Aerospace\'s deal covers GE90, GEnx-2B and GE9X engines powering Silk Way West freighters.\",\"1\":\"More than 3,600 GEnx engines are in service and backlog, with over 62M flight hours completed.\",\"2\":\"The contract extends a long-standing partnership supporting Silk Way West\'s GE-powered fleet.\"}
GE Aerospace (GE - Free Report) recently entered into an extended services contract with Silk Way West Airlines to maintain the latter’s operational fleet of Boeing aircraft. The deal will cover six GE90-115B-equipped 777 Freighters, five GEnx-2B-powered 747-8 Freighters and four GE9X-equipped 777-8 Freighters.
Since the launch of GEnx, the engine family has completed more than 62 million flight hours. At present, more than 3,600 of these engines are in service and on backlog, which includes spare units. The GE9X engine powers the Boeing 777X family of aircraft and provides 10% improved specific fuel consumption compared with its prior version. The GE90 marks the company’s first engine in the category of 100,000-pound thrust and has gradually evolved as the most cutting-edge commercial turbofan engine over the years.
The latest deal is a testimony to the long-standing collaboration between GE Aerospace and Silk Way West Airlines, which currently has a strong GE-powered fleet. In November 2022, GE received an order from Silk Way West Airlines to offer five GE9X engines and eleven GE90 engines. The engines supported the airlines’ fleet modernization program that involved the purchase of Boeing 777 and 777-8 freighters in 2021 and 2022, respectively.
This extended services deal with GE will help Silk Way West Airlines to keep its strong fleet of Boeing aircraft operational and offer improved services to customers.
GE’s Zacks Rank & Price Performance
GE Aerospace currently sports a Zacks Rank #1 (Strong Buy). The company is benefiting from a growing installed base and higher utilization of engine platforms, driven by strong momentum and growth across the commercial and defense sectors. Rising U.S. & international defense budgets, positive airline and airframer dynamics and robust demand for commercial air travel augur well for the company.
Image Source: Zacks Investment Research
In the past three months, the company’s shares have gained 21.6% compared with the industry’s 7.1% growth.
The Zacks Consensus Estimate for GE’s 2025 earnings has increased 5.8% in the past 60 days.
Other Key Picks
Some other top-ranked companies from the space are discussed below.
LATAM Airlines delivered a trailing four-quarter average earnings surprise of 4%. In the past 60 days, the Zacks Consensus Estimate for LTM’s 2025 earnings has increased 13.6%.
SkyWest, Inc. (SKYW - Free Report) presently sports a Zacks Rank of 1. SkyWest delivered a trailing four-quarter average earnings surprise of 21.9%.
In the past 60 days, the Zacks Consensus Estimate for SKYW’s 2025 earnings has increased 6.3%.
Howmet Aerospace Inc. (HWM - Free Report) currently carries a Zacks Rank #2 (Buy). Howmet Aerospace delivered a trailing four-quarter average earnings surprise of 7.1%.
In the past 60 days, the Zacks Consensus Estimate for HWM’s 2025 earnings has increased 2.9%.
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GE Aerospace Enters Into Services Contract With Silk Way West Airlines
Key Takeaways
GE Aerospace (GE - Free Report) recently entered into an extended services contract with Silk Way West Airlines to maintain the latter’s operational fleet of Boeing aircraft. The deal will cover six GE90-115B-equipped 777 Freighters, five GEnx-2B-powered 747-8 Freighters and four GE9X-equipped 777-8 Freighters.
Since the launch of GEnx, the engine family has completed more than 62 million flight hours. At present, more than 3,600 of these engines are in service and on backlog, which includes spare units. The GE9X engine powers the Boeing 777X family of aircraft and provides 10% improved specific fuel consumption compared with its prior version. The GE90 marks the company’s first engine in the category of 100,000-pound thrust and has gradually evolved as the most cutting-edge commercial turbofan engine over the years.
The latest deal is a testimony to the long-standing collaboration between GE Aerospace and Silk Way West Airlines, which currently has a strong GE-powered fleet. In November 2022, GE received an order from Silk Way West Airlines to offer five GE9X engines and eleven GE90 engines. The engines supported the airlines’ fleet modernization program that involved the purchase of Boeing 777 and 777-8 freighters in 2021 and 2022, respectively.
This extended services deal with GE will help Silk Way West Airlines to keep its strong fleet of Boeing aircraft operational and offer improved services to customers.
GE’s Zacks Rank & Price Performance
GE Aerospace currently sports a Zacks Rank #1 (Strong Buy). The company is benefiting from a growing installed base and higher utilization of engine platforms, driven by strong momentum and growth across the commercial and defense sectors. Rising U.S. & international defense budgets, positive airline and airframer dynamics and robust demand for commercial air travel augur well for the company.
Image Source: Zacks Investment Research
In the past three months, the company’s shares have gained 21.6% compared with the industry’s 7.1% growth.
The Zacks Consensus Estimate for GE’s 2025 earnings has increased 5.8% in the past 60 days.
Other Key Picks
Some other top-ranked companies from the space are discussed below.
LATAM Airlines Group S.A. (LTM - Free Report) currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
LATAM Airlines delivered a trailing four-quarter average earnings surprise of 4%. In the past 60 days, the Zacks Consensus Estimate for LTM’s 2025 earnings has increased 13.6%.
SkyWest, Inc. (SKYW - Free Report) presently sports a Zacks Rank of 1. SkyWest delivered a trailing four-quarter average earnings surprise of 21.9%.
In the past 60 days, the Zacks Consensus Estimate for SKYW’s 2025 earnings has increased 6.3%.
Howmet Aerospace Inc. (HWM - Free Report) currently carries a Zacks Rank #2 (Buy). Howmet Aerospace delivered a trailing four-quarter average earnings surprise of 7.1%.
In the past 60 days, the Zacks Consensus Estimate for HWM’s 2025 earnings has increased 2.9%.