GE Aviation flies high on surging worldwide demand
14 Jan 2008
Evendale, Ohio: Riding on the back of overseas orders, particularly from China and India, General Electric's jet engine programme is enjoying a huge jump in orders, with sales growing nearly 15 per cent in 2007 over 2006.
Sales for 2007 were the third record year in a row for orders.
GE Aviation, the Evendale-based division of GE, the global conglomerate, has a record number of engines on order through 2012, thanks to an increased demand throughout the world, especially in the growing Asian/Pacific markets.
"While US carriers reduced capacity slightly last year, other regions of the world are growing," said chief marketing officer, Chet Fuller.
Although North American engine orders dropped 7 per cent in 2007, as compared to 2006, orders from Europe increased 5.6 per cent. Sales, for GE Aviation, in the Middle East and Africa region also more than doubled in 2007.
The company sold about $10 billion worth of engines during the Dubai Airshow alone.
GE Aviation's top selling engine, produced by a joint venture with France's Snecma, powers mid-range, single-aisle jets such as the Boeing 737 and the Airbus A320. These jets now represent nearly two-thirds of the world's passenger jet market even as soaring fuel prices has pushed companies to opt for smaller jets.
