GE Aerospace secures $5 billion U.S. Air Force contract

GE Aerospace shares rose by 2.5% on Monday, outpacing the S&P 500's 0.6% increase. This surge comes after the company announced a significant new contract with the U.S. Air Force. The contract, worth up to $5 billion, is for the supply of F110-GE-129 engines. These engines power the F-15 and F-16 aircraft, which are used by many U.S. allies worldwide. GE Aerospace highlighted that the F110 engines have been in production for over 40 years. GE's defense CEO, Amy Gowder, stated the contract confirms the F110 engine's reliability and performance. She emphasized that this agreement strengthens trust in their product for critical military missions. Overall, GE Aerospace’s ability to secure this contract reassures investors and solidifies its role as a key provider for military aviation needs.