GE Aviation is on a roll
On June 18, GE Aviation’s (GE) CEO, David Joyce, told CNBC that the company is looking to get $35 billion in new business at the Paris Air Show. He was optimistic about crossing that number by a significant margin if things go according to the company’s plan.
Indigo, an Indian low-cost carrier, placed a $20 billion order for LEAP 1A engines. The engines will power 280 Airbus A320neo and A321neo planes. The engines will be provided by CFM International—a joint venture between GE Aviation and France’s Safran Aircraft Engines.
AirAsia and CFM International signed a deal for 200 LEAP 1A engines and updated the service agreement. The transaction’s total value is quoted at $23.1 billion.
Boeing’s new orders
Boeing (BA) is also making headlines at the Paris Air Show. The company got the first order for 737 MAX aircraft since the grounding in March. International Consolidated Airlines Group, British Airways’s parent, and Boeing signed a letter of intent for 200 737 MAX aircraft. Boeing also got an order for 777 cargo aircraft from a Taiwanese airline.
Boeing’s order will also help General Electric, which powers Boeing aircraft. The Paris Air Show has been beneficial for GE Aviation and Boeing.
Boeing gained 5.37% on June 18. The stock rose 0.45% in pre-market trading at 9:09 AM ET on June 19. GE Aviation gained 3.68% on June 18. The stock rose 0.29% in pre-market trading on June 19.