GE Aviation Records 11 Percent Revenue Growth For Fourth Quarter | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 11.26.14 ** HD iPad-Friendly -- Airborne 11.26.14 **
** Airborne 11.24.14 ** HD iPad-Friendly -- Airborne 11.24.14 **
** Airborne 11.21.14 ** HD iPad-Friendly -- Airborne 11.21.14 **

Wed, Jan 23, 2013

GE Aviation Records 11 Percent Revenue Growth For Fourth Quarter

Year-To-Year Comparison Shows Seven Percent Increase In Profit

No matter how you slice it, 2012 was a good year for GE Aviation. The company posted a profit of $3.75 billion over 2011, equating to a seven percent increase.

The fourth quarter was strong as well, with the company's profits increasing 22 percent over the same period in 2011, according to a report appearing in Air Transport World online. The fourth quarter revenues were $5.47 billion, an 11 percent increase.

GE chairman and CEO Jeff Immelt said the company closed out 2012 strong "despite the mixed global economic environment.” He said there is growth in China and other resource-rich countries, but the global environment remains uncertain. But Immelt also said in a statement that the company has its "largest backlog in history and a substantial amount of cash generated by our businesses in the fourth quarter." He said the momentum going into 2013 was "great."

GE also announced the acquisition of Italian aerospace company Avio during 2012. The company said in a statement at the time the $4.3 billion deal was announced that it would "further GE’s participation in jet propulsion, one of the most attractive sectors of the aviation industry."

FMI: www.geaviation.com

Advertisement

More News

ANN's Daily Aero-Linx (11.26.14)

FAA Aviation Safety Information Analysis And Sharing System (ASIAS) The Federal Aviation Administration (FAA) promotes the open exchange of safety information in order to continuou>[...]

ANN's Daily Aero-Term (11.26.14): Density Altitude

Pressure altitude corrected for nonstandard temperature. Density altitude is used in computing the performance of an aircraft and its engines.>[...]

Aero-News: Quote Of The Day (11.26.14)

“We hope to never see an event like this again, but, we must be prepared." Source: FAA Administrator Michael Huerta, on the release of the agency's 30 report on the fire at t>[...]

ANN FAQ: It's Alive! ANN REALTIME NewsBug Headlines for YOUR Desktop!

It's For Real! ANN REALTIME NewsBug Released To ANN Readers, Worldwide For those of you using a windows PC (MAC version in the works... we promise), a new REALTIME News Service fro>[...]

Helicopters Still Flying Tourists Over Hudson River

But Activists Continue To Call For A Ban On The Flights A group of activists in New York and New Jersey are still working to have sightseeing flights over New York City and the Hud>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC