Saturday, September 20, 2003

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GE Aircraft revenue to decline

GE Aircraft Engines said Friday that it expects revenue this year to fall about $300 million compared with last year.

The division of General Electric, based in Evendale, said in a presentation to investors that revenue should hit $10.8 billion by the end of the year, down from $11.1 billion, because of hard times in the aviation industry.

The company said it sees operating profit for the engine design and manufacturing unit in a range of $2.1 billion to $2.2 billion this year, compared with $2.1 billion last year, Dow Jones Newswires reported. Commercial engines vice president David Joyce made the presentation at a conference.

GEAE expects air traffic to recover in 2004, and company executives said the next big growth opportunity is in Chinese aviation.

Enquirer staff

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