GE Aerospace (NYSE:GE) and Qatar Airways have announced a landmark expansion of their partnership with an order exceeding 400 aircraft engines, including 60 GE9X and 260 GEnx units, to power Qatar’s Boeing 777-9 and Boeing 787 fleets. The deal, unveiled during U.S. President Donald J. Trump’s visit to Doha, marks the largest widebody engine order in GE Aerospace’s history.
The agreement includes long-term service contracts for engine maintenance, repair, and overhaul, reinforcing a robust collaboration between the two aviation giants. This latest commitment builds upon Qatar Airways’ previous purchase of 188 GE9X engines—bringing its total to 248—and supplements its existing fleet of 124 GEnx engines.
“This significant investment underlines our confidence in GE’s engine technology and our dedication to maintaining a modern, fuel-efficient fleet,” said Qatar Airways Group CEO, Engr. Badr Mohammed Al-Meer. GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. echoed the sentiment, emphasizing the strength of the relationship and GE’s ongoing role in powering global aviation.
The GE9X engine, exclusive to Boeing’s 777X aircraft, holds the title of the world’s most powerful commercial jet engine and is 10% more fuel-efficient than its predecessor, the GE90-115B. The GEnx engine, introduced in 2011, has logged more than 62 million flight hours and currently powers two-thirds of Boeing 787 aircraft in service, making it GE’s fastest-selling high-thrust engine.
Both the GE9X and GEnx engines are certified to operate on Sustainable Aviation Fuel (SAF) blends, aligning with global aviation’s transition to more sustainable technologies. GE Aerospace further supports Qatar’s aviation infrastructure by delivering On Wing Support services and training local aerospace professionals.
The announcement comes amid a period of strong financial performance for GE Aerospace, which boasts a market capitalization of $237.8 billion and is trading near its 52-week high. The company has posted an impressive 33.1% year-to-date return and an 8.82% revenue increase over the past year. According to InvestingPro, however, GE currently appears overvalued relative to its fair value estimate.
In its latest earnings report, GE Aerospace reported adjusted Q1 earnings per share of $1.49, beating analysts’ consensus of $1.27. Adjusted revenue reached $9.0 billion—an 11% increase year-over-year—while operating profit climbed to $2.15 billion, surpassing expectations by 12%.
Analysts from BofA Securities, Bernstein, TD Cowen, and RBC Capital Markets have all raised their price targets for GE Aerospace, citing strong aftermarket growth, successful implementation of the company’s C25 initiative, and resilient cash flow. The company also remains confident in offsetting a potential $500 million tariff impact through strategic cost controls and pricing strategies.
The expanded agreement with Qatar Airways not only deepens GE Aerospace’s footprint in the Middle East but also solidifies its role as a key enabler of the airline’s ambitious fleet modernization and growth strategy.