We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
GE Aerospace Partners With UAMCO for CFM LEAP MRO in Cyprus
Read MoreHide Full Article
GE Aerospace (GE - Free Report) has entered into a maintenance, repair and overhaul (MRO) offload agreement with United Aerospace Maintenance Company (“UAMCO”) in Cyprus to focus on quick turnaround services for CFM LEAP engines.
Based in Larnaca, Cyprus, UAMCO recently received EASA approval for quick-turn maintenance on LEAP-1A engines for Airbus A320neo aircraft and LEAP-1B engines for Boeing 737 MAX aircraft. The company is collaborating with GE Aerospace On-Wing Support to deliver on-wing and near-wing retrofits for the LEAP-1A engine's new reverse bleed system. It has two teams available globally for these installations.
The CFM LEAP engine offers 15% better fuel efficiency and reduced carbon emissions compared with the CFM56, with operators saving up to 20% on fuel costs. With more than 3,500 LEAP-powered aircraft in service, the engine has saved more than 35 million tons of CO2 and set a record for the fastest ramp-up in engine flight hours, exceeding 60 million in just eight years.
This collaboration will help GE Aerospace meet its MRO obligations to CFM within an open ecosystem that includes internal capacity from GE and Safran, and external providers competing for LEAP engine work.
GE’s Zacks Rank
GE currently carries a Zacks Rank #2 (Buy). In the year-to-date period, the company’s shares have gained 59.8% compared with the industry’s 54.1% growth.
Image Source: Zacks Investment Research
GE Aerospace has been witnessing strength in its businesses, driven by robust demand for commercial engines, propulsion and additive technologies. Rising U.S. & international defense budgets, geopolitical tensions, positive airline and airframer dynamics and robust demand for commercial air travel augur well for the company.
Southwest Airlines delivered a trailing four-quarter average earnings surprise of 111.6%. In the past 60 days, the Zacks Consensus Estimate for LUV's 2024 earnings has increased 222.6%.
SkyWest, Inc. (SKYW - Free Report) presently sports a Zacks Rank of 1. The company delivered a trailing four-quarter average earnings surprise of 79.12%.
In the past 60 days, the Zacks Consensus Estimate for SKYW’s 2024 earnings has increased 4.1%.
American Airlines Group Inc. (AAL - Free Report) currently carries a Zacks Rank of 2. AAL delivered a trailing four-quarter average earnings surprise of 124.37%.
In the past 60 days, the consensus estimate for American Airlines’ fiscal 2025 earnings has increased 35.5%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
GE Aerospace Partners With UAMCO for CFM LEAP MRO in Cyprus
GE Aerospace (GE - Free Report) has entered into a maintenance, repair and overhaul (MRO) offload agreement with United Aerospace Maintenance Company (“UAMCO”) in Cyprus to focus on quick turnaround services for CFM LEAP engines.
Based in Larnaca, Cyprus, UAMCO recently received EASA approval for quick-turn maintenance on LEAP-1A engines for Airbus A320neo aircraft and LEAP-1B engines for Boeing 737 MAX aircraft. The company is collaborating with GE Aerospace On-Wing Support to deliver on-wing and near-wing retrofits for the LEAP-1A engine's new reverse bleed system. It has two teams available globally for these installations.
The CFM LEAP engine offers 15% better fuel efficiency and reduced carbon emissions compared with the CFM56, with operators saving up to 20% on fuel costs. With more than 3,500 LEAP-powered aircraft in service, the engine has saved more than 35 million tons of CO2 and set a record for the fastest ramp-up in engine flight hours, exceeding 60 million in just eight years.
This collaboration will help GE Aerospace meet its MRO obligations to CFM within an open ecosystem that includes internal capacity from GE and Safran, and external providers competing for LEAP engine work.
GE’s Zacks Rank
GE currently carries a Zacks Rank #2 (Buy). In the year-to-date period, the company’s shares have gained 59.8% compared with the industry’s 54.1% growth.
Image Source: Zacks Investment Research
GE Aerospace has been witnessing strength in its businesses, driven by robust demand for commercial engines, propulsion and additive technologies. Rising U.S. & international defense budgets, geopolitical tensions, positive airline and airframer dynamics and robust demand for commercial air travel augur well for the company.
Other Stocks to Consider
Other top-ranked companies are discussed below.
Southwest Airlines Co. (LUV - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Southwest Airlines delivered a trailing four-quarter average earnings surprise of 111.6%. In the past 60 days, the Zacks Consensus Estimate for LUV's 2024 earnings has increased 222.6%.
SkyWest, Inc. (SKYW - Free Report) presently sports a Zacks Rank of 1. The company delivered a trailing four-quarter average earnings surprise of 79.12%.
In the past 60 days, the Zacks Consensus Estimate for SKYW’s 2024 earnings has increased 4.1%.
American Airlines Group Inc. (AAL - Free Report) currently carries a Zacks Rank of 2. AAL delivered a trailing four-quarter average earnings surprise of 124.37%.
In the past 60 days, the consensus estimate for American Airlines’ fiscal 2025 earnings has increased 35.5%.