GE Wins Deal From Ethiopian Airlines to Power New Widebody Aircraft

GE Aerospace GE recently secured a deal from Ethiopian Airlines Group to supply GEnx engines for the latter’s 11 new Boeing 787 aircraft. This brings the total number of GEnx-powered aircraft in the airline’s fleet to 30, up from 19 earlier.

Since the launch of GEnx, the engine family has completed more than 62 million flight hours. Of late, more than 3,600 of these engines are in service and backlog, which includes the spare units. The GEnx engine is installed in two-thirds of all Boeing 787 aircraft currently in service.

In a separate deal, the airline reaffirmed its earlier commitment to equip eight Boeing 777-9 jets with GE9X engines. The agreement includes an option to add six more aircraft with GE9X engines.

Per the contracts, GE will provide maintenance, repair and overhaul services to Ethiopian Airlines for the GEnx and GE9X engines. This order is a testimony to the long-standing collaboration between GE Aerospace and Ethiopian Airlines, which began in 2003. 

Lately, GE has received a series of deals, which are likely to drive its growth. In this month the company secured a contract from Qatar Airways to supply GE9X and GEnx engines. Also, in March 2025, GE secured an Indefinite Delivery/Indefinite Quantity contract from the U.S. Air Force to deliver F110-GE-129 engines for the latter’s F-15 and F-16 aircraft that are managed by allied nations across the globe.

GE’s Zacks Rank & Price Performance

The company currently carries a Zacks Rank #2 (Buy). GE Aerospace is benefiting from a growing installed base and higher utilization of engine platforms, driven by strong momentum and growth across the commercial and defense sectors. Rising U.S. & international defense budgets, geopolitical tensions, positive airline and airframer dynamics, and robust demand for commercial air travel augur well for the company.

In the past six months, the company’s shares have gained 31.7% compared with the industry’s 11.1% growth.

Other Stocks to Consider

Some other top-ranked companies are discussed below:

Leidos Holdings, Inc. LDOS currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

LDOS delivered a trailing four-quarter average earnings surprise of 23.7%. In the past 60 days, the Zacks Consensus Estimate for Leidos Holdings’ 2025 earnings has increased 1.5%.

Crown Holdings, Inc. CCK currently carries a Zacks Rank of 2. CCK delivered a trailing four-quarter average earnings surprise of 16.3%.

In the past 60 days, the Zacks Consensus Estimate for Crown Holdings’ 2025 earnings has increased 3.8%.

The Gorman-Rupp Company GRC presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 2.4%.

The Zacks Consensus Estimate for GRC’s 2025 earnings has increased a penny in the past 60 days.

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This article originally published on Zacks Investment Research (zacks.com).

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