GE Aerospace CEO’s China Visit Highlights Commitment Amid Market Challenges

GE Aerospace's stock recently experienced a 5.96% decline.

On August 30, Russell Stokes, the President and CEO of GE Aerospace's Commercial Engines and Services, concluded his first visit to China since GE Aerospace's independent listing. During his visit, Stokes acknowledged the significant transitions occurring in the Chinese market and emphasized both the challenges and opportunities he discovered through interactions with customers and partners. His observations underscored the high morale and impressive achievements of the Chinese team, which he finds continuously growing and evolving.

Emphasizing the importance of the Chinese market, Stokes expressed his firm belief in the substantial potential and opportunities present there, identifying China as a critical strategic segment of GE Aerospace's global market. Stokes affirmed GE's commitment to deepening its presence in China, adhering to customer promises, and collaborating with partners to elevate the Chinese aviation industry.

For over 44 years, GE Aerospace and its joint venture CFM International have been active in the Greater China region, with more than 7,700 engines in service and an order backlog of over 4,900 engines, serving more than 60 airlines. The collaboration between GE Aerospace, its joint ventures, and Commercial Aircraft Corporation of China (COMAC) has spanned over two decades, contributing to numerous milestones from aircraft power supply to avionics systems and after-sales support.

During his visit, Stokes toured COMAC's assembly manufacturing center in Pudong, gaining insight into the final assembly of ARJ21 and C919 aircraft. He also attended the delivery ceremony of the first C919 aircraft to Air China and China Southern Airlines, expressing gratitude to COMAC for their long-standing trust and highlighting GE's continued commitment to providing safe and reliable products and services to support the development of China's domestic aircraft.

Additionally, Stokes met with officials from the National Development and Reform Commission and the Civil Aviation Administration of China, underscoring the cooperative ethos that GE maintains with various Chinese stakeholders in the aviation sector. This visit reinforces GE Aerospace's enduring partnership and dedication to advancing the aviation industry in China.