Philippine Airlines Orders GEnx-1B Engines for 15 Boeing 787-10s
GE sits 34% above its 52-week low of $254.66.
Summary
Philippine Airlines signed with GE Aerospace for GEnx-1B engines to power 15 new Boeing 787-10 Dreamliners, with purchase rights for five additional aircraft. This adds to a string of recent large engine orders, including BOC Aviation's 300 LEAP engines and IndiGo's 1,000+ LEAP-1A engines, underscoring strong commercial aerospace demand. The deal further builds GE's $210.8 billion backlog and follows a strong Q2 earnings beat and raised guidance. While the financial terms are undisclosed, the order reinforces GE's dominant position in widebody engines and supports the positive momentum in its commercial engines and services segment.
At the time of this announcement, GE was trading at $342.20 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $354.1B. The 52-week trading range was $254.66 to $382.97. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.