|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||107.16 - 110.92|
|52-week range||59.28 - 121.00|
|Beta (5Y monthly)||1.89|
|PE ratio (TTM)||28.63|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||20 Apr 2020|
|1y target est||N/A|
Jet engine maker General Electric Co is aligned with "near-term" plans of both Airbus and Boeing to ramp up production, its Chief Executive Larry Culp said on Tuesday. Culp, however, declined to comment on Airbus' plan to go beyond an immediate ramp-up and almost double production of its best-selling A320 jets by 2025. This plan has drawn criticism from engine makers and aircraft leasing companies about the risk of overproduction during a fragile airline industry recovery from the pandemic.
PARIS/WASHINGTON (Reuters) -Airbus was forced for the second time in as many days to defend sharp increases in production, after one its engine makers said it did not expect to support plans for a near-twofold increase in the output of A320 jets by 2025. The exchange with the world's largest aerospace supplier, Raytheon Technologies, comes after Airbus on Monday rejected worries about overproduction from leasing companies. Engine makers and lessors rely on the attractiveness of existing planes to support their repair revenues or rental fees, putting them naturally at odds with planemakers who make money on new jets.
A senior Airbus official on Monday defended the European planemaker's output goals after it clashed with leasing companies worried about overproduction of jetliners. "The key to all this is that we have these firm contracts with our clients - we cannot say that we are not going to respect those contracts because we think they are too many for the business," said Airbus Latin America president Arturo Barreira, on the sidelines of the ALTA airline conference in Bogota. Industry sources said earlier on Monday Airbus had rebuffed calls for output restraint from leasing companies, which fear the effect of too much production on the value of existing assets.