- July 28, 2021
- Posted by: Stratford Team
- Category: Business
General Electric CEO Larry Culp told CNBC on Tuesday he believes global air travel will continue to recover from its pandemic-induced slowdown, leading to a positive outlook for the industrial giant’s critical aviation unit.
“Clearly, lots of things that we all have our eyes on including the delta variant. But that said, it looks like the leisure traveler is back and business travelers are not that far behind, hopefully,” Culp said in an interview on “Squawk on the Street.” “I think on balance, that’s what gives us the optimism and the confidence about our aviation business.”
Shares of GE were up about 0.8% on Tuesday, slightly off their highs of the day, after the Boston-based company posted second-quarter results. Adjusted earnings of 5 cents per share topped analyst expectations of 3 cents per share, according to Refinitiv. GE also reported free cash flow of $388 million for Q2, surprising Wall Street analysts who were looking for outflows.
GE hiked…
