GE Sees More Than $10 Billion Engine Orders at Paris Show
General Electric Co. (GE), the world’s biggest maker of jet engines, predicted it will pick up more than $10 billion worth of orders during this week’s Paris Air Show as airlines flock to more fuel-efficient models.
Orders will be a mix of aircraft sizes, with the majority in the narrow-body market, GE Aviation Chief Executive Officer David Joyce said in an interview today at the show.
“I couldn’t be happier with our position now or coming out of the show,” Joyce said.
Demand is rebounding for the second straight year as oil prices rise. That’s driving a push for more efficient engines, with GE offering a new variant for the Airbus SAS A320neo single-aisle aircraft that promises as much as 15 percent in efficiency gains over current A320 models.
GE, through its CFM International joint venture with France’s Safran SA (SAF), is vying with United Technologies Corp. (UTX)’s Pratt & Whitney unit to equip the A320neo single-aisle jets. GE expects CFM to build about 1,300 engines in total a a year through 2013, the company said last week.
Boeing Co. (BA) is doing the “right thing” taking its time to study whether to upgrade its existing 737 models, the world’s best-selling aircraft, or build a new plane, Joyce said.
“My hat’s off to them in this environment, with everyone asking them what they’re going to do, taking the time,” he said.
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