financetom
Business
financetom
/
Business
/
Update: GE Jet Engine-Building Joint Venture Reportedly Straddling Difficult Position Between Airbus, Boeing
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: GE Jet Engine-Building Joint Venture Reportedly Straddling Difficult Position Between Airbus, Boeing
Jun 25, 2024 3:04 PM

05:40 PM EDT, 06/25/2024 (MT Newswires) -- (Updates with Airbus' response in the fourth paragraph.)

GE Aerospace (GE) and Safran Aircraft Engines' aircraft engine maker joint venture CFM International may be struggling to keep up with demand for jet engines amid a host of difficulties roiling the commercial aviation business in recent months, according to media reports.

Perhaps chief among the problems for CFM has been the spillover effects of US aircraft builder Boeing's ( BA ) recent efforts to resolve safety issues exacerbated by a door plug blowing out on a Boeing 737-9 Max narrowbody jet soon after takeoff in January. Rival builder Airbus initially tried to take advantage of Boeing's ( BA ) situation by ramping up its production goals but may now be hitting a snag because that would require CFM to take sides in a fight between its primary customers, Reuters said on Tuesday, citing unnamed industry sources.

Airbus on Monday trimmed its 2024 production and profit forecasts and only issued a modestly ambitious forecast for 2025. Complicating its outlook are recent supply-chain bottlenecks at RTX's (RTX) Pratt & Whitney unit, which also builds jet engines for Airbus as well as Boeing ( BA ), according to media reports.

"Airbus doesn't comment on confidential discussions with suppliers," a company spokesperson said in an email to MT Newswires.

Representatives for GE Aerospace and Safran, which each own a 50% share of CFM, did not immediately respond to requests for comment from MT Newswires.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Trade Desk reports slower quarterly revenue growth, shares plummet
Trade Desk reports slower quarterly revenue growth, shares plummet
Aug 7, 2025
Aug 7 (Reuters) - Trade Desk ( TTD ) on Thursday reported a slowdown in revenue growth in the second quarter on Thursday, hurt by softer demand for its digital advertising services in the connected TV market, sending it shares plummeting over 28%. In the second quarter, Trade Desk ( TTD ) saw revenue growth of 19%, compared with a...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Monster Beverage Q2 Adjusted Earnings, Revenue Rise; Shares Up After Hours
Monster Beverage Q2 Adjusted Earnings, Revenue Rise; Shares Up After Hours
Aug 7, 2025
04:22 PM EDT, 08/07/2025 (MT Newswires) -- Monster Beverage ( MNST ) reported Q2 adjusted earnings late Thursday of $0.52 per diluted share, up from $0.43 a year earlier. Analysts surveyed by FactSet expected $0.48 per share. Net sales for the quarter ended June 30 were $2.11 billion, up from $1.9 billion a year ago. Analysts surveyed by FactSet expected...
Gilead posts flat quarterly profit, raises full-year outlook
Gilead posts flat quarterly profit, raises full-year outlook
Aug 7, 2025
Aug 7 (Reuters) - Gilead Sciences ( GILD ) on Thursday reported flat quarterly earnings on slightly higher revenue and raised its full-year financial outlook due largely to better-than-expected sales of HIV drugs. Adjusted earnings per share were flat from a year earlier at $2.01, and just ahead of the average analysts' estimate of $1.97, as compiled by LSEG. Revenue...
Copyright 2023-2026 - www.financetom.com All Rights Reserved