GE Aviation Systems, an operating unit of
General Electric Company
), has recently procured a joint venture aviation contract worth
$145 million from Tunisian airline company Syphax Airlines.
Launched in 2011, Syphax operates in domestic routes as well as
across international locations such as France, Germany, Libya and
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The private airline operator selected LEAP-1A and CFM56-5B
engines that are manufactured by CFM International for three of
its Airbus A320neo and three Airbus A319/A320ceo aircrafts,
respectively. The first of the engines for A320ceo is likely to
delivered in 2015, while that of the A320neo aircraft is slated
to begin in 2019. With the new line of aircrafts, Syphax expects
to provide easy access from two of its leading hubs, the
Sfax-Thyna International Airport serving Sfax city in Tunisia,
and the Tunis-Carthage Airport serving Tunis.
CFM International is a 50-50 joint venture between Snecma S.A., a
French multinational aircraft manufacturer and subsidiary of
); and GE Aviation Systems, which typically develops tubes, ducts
and manifolds for the LEAP engine in its Dayton facility. The
company is currently developing a new $51 million research and
development centre in Dayton to augment its new product line.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world. With
products and services ranging from aircraft engines, power
generation, water processing, and security technology to medical
imaging, business and consumer financing, media content and
industrial products, it serves customers in more than 100
countries and employs more than 287,000 people worldwide.
Its segments include Energy Infrastructure, Aviation, Healthcare,
Transportation, Home & Business Solutions and GE Capital.
Evendale-based GE Aviation Systems is a premier supplier of
commercial and military jet engines and components. It also
provides avionics, electric power, and mechanical systems for
aircraft along with an extensive global service network to
support these products.
General Electric currently has a Zacks Rank #3 (Hold). We have a
long-term Neutral recommendation on the stock.