GE Aerospace reports news on its aircraft engine, services, and systems business, including commercial engine orders, long-term service support, maintenance, repair and overhaul investments, and digital tools used in production, supply chain, and military aircraft readiness. Coverage includes customer selections for GEnx and other GE Aerospace or CFM-powered fleets, dividend declarations, workforce-training initiatives, and governance matters involving defense-related products.
General Electric (NYSE:GE) and GE Capital Funding have launched an Exchange Offer for $6.0 billion in Outstanding Notes with maturities from 2025 to 2032. This offer includes 3.450% Notes due 2025, 4.050% Notes due 2027, 4.400% Notes due 2030, and 4.550% Notes due 2032, all fully guaranteed by GE. The Exchange Offer aims to meet obligations under registration rights agreements, with no proceeds going to either GE or GECF. The offer expires on May 5, 2021, with settlement following shortly after. The details are available in a prospectus filed with the SEC.
GE Digital announced that Lineas Aereas Suramericanas (LAS) Cargo has contracted its Electronic Flight Operation Quality Assurance (eFOQA) solution to enhance safety compliance in Colombia. eFOQA enables airlines to automate data processes, improve safety performance, and reduce costs by analyzing flight data. The system also aids in minimizing carbon footprints through fuel analytics. GE Digital aims to support LAS Cargo in achieving safer and more efficient operations as part of a long-term partnership.
AerCap Holdings N.V. (NYSE: AER) reported significant transactions in Q1 2021, including lease agreements for 60 aircraft (28 widebody and 32 narrowbody). The company purchased 1 Embraer E2 and executed sales for 9 aircraft from its portfolio, comprising various models like Airbus and Boeing. AerCap issued $1 billion in 5-year senior unsecured notes at a 1.75% coupon and agreed to acquire GE Capital Aviation Services (GECAS) for $28.4 billion through multiple credit agreements.
GE Healthcare has launched the Venue Fit™, a compact and portable point-of-care ultrasound (POCUS) system, along with an innovative AI tool for cardiac imaging. Designed for efficiency in tight spaces, Venue Fit caters to increasing clinical demands, particularly during the ongoing COVID-19 pandemic, where there are over 127 million cases globally. Demand for its existing Venue Go system surged fivefold in 2020. New AI features, including RealTime EF and Lung Sweep, enhance diagnostic capabilities, aiming to improve workflow efficiency and patient outcomes.
GE Healthcare has launched the Vscan Air™, a wireless pocket-sized ultrasound device that offers high-quality imaging and whole-body scanning capabilities. This innovative tool is designed for ease of use, allowing clinicians to quickly perform examinations and triage patients, especially critical cases, directly at the bedside. The Vscan Air is noted for its intuitive user interface and portability, enabling clinicians to enhance patient care efficiently. With over 30,000 existing Vscan systems impacting more than 50 million patients globally, this launch reinforces GE Healthcare's commitment to advancing medical technology.
AerCap Holdings N.V. (NYSE: AER) has announced its definitive agreement to acquire 100% of GE Capital Aviation Services (GECAS) from General Electric (NYSE: GE). The transaction is valued at $24 billion in cash, plus $1 billion in AerCap notes, and will issue 111.5 million shares to GE, resulting in GE holding approximately 46% of the combined company. This acquisition will create a leading aviation leasing platform, enhancing cash flows and profitability. The transaction is expected to close in Q4 2021, pending regulatory and shareholder approvals.
GE (NYSE:GE) has outlined its 2021 outlook, focusing on growth and financial stability. The company anticipates GE Industrial revenues to grow organically in the low-single-digit range with an adjusted profit margin expansion of over 250 basis points. Adjusted earnings per share are projected between $0.15 and $0.25, and free cash flow is expected between $2.5 billion and $4.5 billion. Additionally, GE is simplifying operations by merging its GE Capital Aviation Services with AerCap Holdings, a move valued at over $30 billion. A reverse stock split is also proposed to adjust share count.
GE (NYSE:GE) announced a strategic combination of its GECAS business with AerCap Holdings N.V., marking a significant transformation towards a more focused industrial company. The deal, valued at over $30 billion, will provide GE with approximately $24 billion in cash and a 46% stake in the merged entity. This transaction aims to strengthen GE's financial position by reducing debt by $30 billion and enhancing operational simplicity. The new entity is set to become a leading global aviation lessor, leveraging expertise for growth while simplifying GE's operations to focus on its industrial core.
Altair has acquired Flow Simulator from GE Aviation, a software that enables flow, heat transfer, and combustion design simulations. This acquisition allows Altair to enhance its software capabilities, facilitating mixed fidelity simulations for various industries including automotive and renewable energy. The deal includes a memo of understanding for a long-term partnership to explore further innovations. With a focus on system-level design, this strategic engagement aims to expand Altair's market reach while optimizing complex thermal system models.
The Board of Directors of GE has declared a $0.01 per share dividend on its outstanding common stock, payable on April 26, 2021. Shareholders on record as of March 8, 2021 will receive this dividend, with an ex-dividend date set for March 5, 2021. This decision underscores GE's commitment to returning value to its shareholders while continuing to operate as a leader in building a world that works efficiently and reliably.