GE Unveils New Jet Engine

General Electric has shown off a new jet engine it hopes will power the military’s sixth-generation jet fighters.

Photo Insert: GE wants the new engine to go on F-35 jets built by Lockheed Martin, which could break the hold held by Pratt & Whitney.

The engine was developed as part of the Air Force’s Adaptive Engine Transition program, or AETP, seeking fuel efficient components, Liz Moyer reported for Barron’s Daily.

GE wants the new engine to go on F-35 jets built by Lockheed Martin, which could break the hold held by Pratt & Whitney.

Bank of America analyst Andrew Obin estimated a GE win could eventually translate into $1 billion in annual earnings before interest, taxes, depreciation and amortization (EBITDA).

In a related development, Saudi Arabia has set aside $1 trillion over the next decade to develop itself as a mass-market tourism destination, the Journal reported, including a fledgling cruise business, planning for a second airport in Riyadh, and eco-lodges in the desert.

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