GE Tells Boeing It Won't Join Three-Way Race on 797 Plane Engine
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David Joyce, vice chairman at General Electric and president and chief executive officer at GE Aviation, discusses the promotion of John Flannery to CEO, their new LEAP engines, the supply chain and the opportunities in defense. He speaks on 'Bloomberg Markets: European Open' from the Paris Air Show. (Source: Bloomberg)
General Electric Co., the world’s biggest jet-engine maker, said it’s not prepared to enter a three-way race for turbine production on Boeing Co.’s planned mid-sized plane because a fragmented market wouldn’t justify the investment needed.
Should Boeing opt for more than two suppliers,“we’re out,” David Joyce, head of GE’s aero-engines arm, said at the Paris Air Show, adding that his company still carries “scars” from being one of three engine providers on the Airbus SE A330 two decades ago.