GE Stock Rises As Air Force Kicks Off Contest To Extend This Cold War Icon’s Life

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

The U.S. Air Force took a key step toward replacing the engines of its storied but aging Boeing (BA) B-52 bomber jets, inviting bids from suppliers General Electric (GE), Raytheon Technologies (RTX) and Rolls-Royce. GE stock and Raytheon stock both rose.

The request for proposals (RFP) released Tuesday seeks to re-engine the entire 76-aircraft B-52 fleet from 2021 to 2035, according to Aviation Week.

GE Aviation, Raytheon’s Pratt & Whitney or Rolls-Royce are vying to supply 608 engines to replace each of the eight P&W TF33 turbofan engines on the Cold War-era bomber. The B-52 engine contract could be worth $5 billion-$7 billion.

Incumbent Pratt & Whitney plans to offer the PW800. GE may offer the CF34 or Passport engine or both, while the U.K.’s Rolls-Royce will offer a military version of the BR.725.

The B-52 re-engine proposals are due July 22. Besides 608 new engines, the contract includes spare engines and related support.

The current P&W TF33 engines on the B-52 cannot be sustained beyond 2030, according to the Air Force. The B-52 itself is expected to continue operating beyond 2050.

Shares of General Electric rose 3.2% to 6.41 on the stock market today. GE stock is testing the 50-day and has a lagging relative strength line, according to MarketSmith chart analysis. Raytheon stock gained 1.3% to 58.76, retaking its 50-day line.

Both GE and Raytheon Technologies say their military aviation businesses remain strong. But the commercial side has been hard hit by the coronavirus pandemic.

Britain’s Rolls-Royce said Wednesday it’s cutting 9,000 jobs from its global staff of 52,000, as the pandemic takes a toll on airlines. CEO Warren East expects air travel not to recover for three to five years.

Raytheon CEO Greg Hayes similarly expects a commercial aviation recovery to take three years, and has imposed furloughs and pay cuts. GE has slashed 25% of its aviation jobs worldwide.

This article was originally published on

Home of Science
Follow me

- Advertisement -




Tesla workers describe precautions inside factory as Musk and officials continue to fight over reopening

KEY POINTS Tesla employees went back to work at the company’s U.S. car plant on Tuesday. Trump cheered on CEO Elon Musk’s defiance of...

Jared Kushner-backed ‘Project Airbridge’ to be largely grounded

“Project Airbridge,” the medical-supply delivery program championed by White House senior adviser Jared Kushner, is being essentially grounded, according to coronavirus task force documents...

Features and Benefits of Sabre Corporation Computer Products

Sabre Corporation is a name that does not get mentioned much in this day and age. The company was started by Hunter Pratt and...

The first Earth Day 50 years ago was a shot heard around the world

The first Earth Day protests, which took place on April 22, 1970 brought 20 million Americans — 10% of the U.S. population at the...

Hong Kong Stocks Swing Wildly as China Approves Security Law

 It was anything but an ordinary afternoon for Hong Kong stocks as Chinese lawmakers approved a controversial plan to impose national security legislation for...
Home of Science
Follow me