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MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

(GE)
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General Electric : AirAsia and GE Aviation Implement Group-Wide Network Operations Software

10/20/2020 | 10:11am EST

Highlights:

* Reducing cost, maximizing on time performance and improving passenger experience with Network Operations decision support

* Improving disruption management and operational efficiency, to minimize the impact of delays and cancellations as operations change

Austin, TX - GE Aviation has partnered with AirAsia and today announced the go-live of its Network Operations Insights (NOI) to help reduce flight disruption impacts and save costs across AirAsia Group's airlines.

'As airlines deal with restoring operations affected by COVID-19, operational efficiency has never been more important,' said Andrew Coleman, GM for GE Aviation'sDigital Group. 'Our Network Operations platform helps airlines operate flights more efficiently and recover from disruptions faster, enabling them to recoup substantial costs in the process.'

Network Operations Insights (NOI) highlights the impact and cost of a disruption enabling airline operations managers to make data driven decisions as the operations change in real time. Before NOI, obtaining the data from multiple systems was very manual and impractical. Now, live views quantify impacts of operational disruptions on passengers, crew, costs and revenue. Managers can run what-if simulations of cancelations, delays or downgrades to assess options and they can review disruption event history to identify potential process improvements.

Javed Malik, Chief Operating Officer, AirAsia Group said, 'AirAsia remains committed to providing the very best in terms of safe, affordable and on time services. Now more than ever, it's important that we further improve our digital capabilities to deliver an enhanced customer experience on the ground and in the air. We are pleased to expand our partnership with GE Aviation with the introduction of this new software which both integrates easily with and compliments our ongoing in-house digital developments focused upon assisting operational teams across the AirAsia Group to drive service excellence, operational efficiency and operating cost reduction benefits.'

Coleman added, 'The Network Operations suite of products delivers powerful software applications, hosted in the cloud on Microsoft Azure, that collect and analyze data streams in real time across multiple airline systems. The analytic software automatically optimizes use of crew and aircraft, while protecting passenger experience as the operation changes.'

About AirAsia

AirAsia is a leading travel and financial platform company in Asia Pacific, providing air transport, travel and lifestyle services, as well as financial services. AirAsia started as a low-cost carrier with operations in Malaysia, Indonesia, Thailand, the Philippines, India and Japan, and has carried more than 600 million guests to over 150 destinations in its network across Asia, Australia, the Middle East and the US. Recognized for its world-class service, the airline has been named Skytrax World's Best Low-Cost Airline 11 years in a row from 2009 to 2019 and World Travel Awards World'sLeading Low-Cost Airline for seven consecutive years from 2013 to 2019. AirAsia has since embarked on a transformation journey to become more than just an airline, with the inclusion of hotels, holidays, activities and online shopping on its travel and lifestyle platform airasia.com, integrated logistics through Teleport and digital financial services via its money app, BigPay. Follow AirAsia on Facebook (AirAsia), Twitter (@AirAsia), Instagram (@airasia), YouTube (AirAsia), Weibo (@????) and WeChat (????).

About GE

GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components, avionics, electrical power systems, digital solutions and integrated systems for commercial, military, business and general aviation aircraft. Learn more at geaviation.com/digital, twitter @GEAviation Watch the video to see how airlines are using GE's Network Operations. See how digital technology is helping airlines improve air travel.

Media contacts:

AirAsia Vanessa Regan vanessaregan@airasia.com

GE Aviation Jennifer Villarreal jennifer.villarreal3@ge.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
AIRASIA GROUP 2.00% 0.765 End-of-day quote.-55.00%
GENERAL ELECTRIC COMPANY 2.64% 10.88 Delayed Quote.-2.51%
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Financials (USD)
Sales 2020 79 649 M - -
Net income 2020 3 511 M - -
Net Debt 2020 20 304 M - -
P/E ratio 2020 32,5x
Yield 2020 0,37%
Capitalization 95 307 M 95 307 M -
EV / Sales 2020 1,45x
EV / Sales 2021 1,46x
Nbr of Employees 189 400
Free-Float 74,3%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 9,98 $
Last Close Price 10,88 $
Spread / Highest target 19,5%
Spread / Average Target -8,30%
Spread / Lowest Target -35,7%
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Managers
NameTitle
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
James S. Tisch Independent Director
Francisco D'Souza Independent Director
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