GE Aerospace Enters Into Services Contract With Silk Way West Airlines

GE Aerospace GE recently entered into an extended services contract with Silk Way West Airlines to maintain the latter’s operational fleet of Boeing aircraft. The deal will cover six GE90-115B-equipped 777 Freighters, five GEnx-2B-powered 747-8 Freighters and four GE9X-equipped 777-8 Freighters.Since the launch of GEnx, the engine family has completed more than 62 million flight hours. At present, more than 3,600 of these engines are in service and on backlog, which includes spare units. The GE9X engine powers the Boeing 777X family of aircraft and provides 10% improved specific fuel consumption compared with its prior version. The GE90 marks the company’s first engine in the category of 100,000-pound thrust and has gradually evolved as the most cutting-edge commercial turbofan engine over the years.The latest deal is a testimony to the long-standing collaboration between GE Aerospace and Silk Way West Airlines, which currently has a strong GE-powered fleet. In November 2022, GE received an order from Silk Way West Airlines to offer five GE9X engines and eleven GE90 engines. The engines supported the airlines’ fleet modernization program that involved the purchase of Boeing 777 and 777-8 freighters in 2021 and 2022, respectively.This extended services deal with GE will help Silk Way West Airlines to keep its strong fleet of Boeing aircraft operational and offer improved services to customers.GE’s Zacks Rank & Price PerformanceGE Aerospace currently sports a Zacks Rank #1 (Strong Buy). The company is benefiting from a growing installed base and higher utilization of engine platforms, driven by strong momentum and growth across the commercial and defense sectors. Rising U.S. & international defense budgets, positive airline and airframer dynamics and robust demand for commercial air travel augur well for the company.Image Source: Zacks Investment ResearchIn the past three months, the company’s shares have gained 21.6% compared with the industry’s 7.1% growth.The Zacks Consensus Estimate for GE’s 2025 earnings has increased 5.8% in the past 60 days.Other Key PicksSome other top-ranked companies from the space are discussed below.LATAM Airlines Group S.A. LTM currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.LATAM Airlines delivered a trailing four-quarter average earnings surprise of 4%. In the past 60 days, the Zacks Consensus Estimate for LTM’s 2025 earnings has increased 13.6%.SkyWest, Inc. SKYW presently sports a Zacks Rank of 1. SkyWest delivered a trailing four-quarter average earnings surprise of 21.9%.In the past 60 days, the Zacks Consensus Estimate for SKYW’s 2025 earnings has increased 6.3%.Howmet Aerospace Inc. HWM currently carries a Zacks Rank #2 (Buy). Howmet Aerospace delivered a trailing four-quarter average earnings surprise of 7.1%.In the past 60 days, the Zacks Consensus Estimate for HWM’s 2025 earnings has increased 2.9%.See our %%CTA_TEXT%% report – free today!7 Best Stocks for the Next 30 DaysWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GE Aerospace (GE): Free Stock Analysis Report SkyWest, Inc. (SKYW): Free Stock Analysis Report LATAM Airlines Group S.A. (LTM): Free Stock Analysis Report Howmet Aerospace Inc. (HWM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks