United Airlines Holdings Inc. (UAL) Settles on GEnx engines for New 787 Dreamliners, as Brazil Okays $100M Azul Investment
United Airlines Holdings Inc. (NASDAQ:UAL) is one of the high-growth industrial stocks to buy. On February 16, United Airlines Holdings Inc. (NASDAQ:UAL) selected 300 GEnx engines to power its new 787 Dreamliners. The agreement also includes the supply of additional spare engines expected to bring the airline’s fleet to more than 200 GEnx-powered aircraft.
The agreement makes United Airlines the largest GEnx operator in the world. The engines in question are engineered with advanced materials and cutting-edge technologies. Therefore, they are able to deliver greater durability and time on wing for customers.
Meanwhile, Brazil’s competition authority, the Administrative Council for Economic Defense (CADE), has approved United Airlines’ planned $100 million investment in Azul S.A., which is undergoing bankruptcy proceedings. The US airline is to make the investment through the subscription of Azul shares.
The $100 million investment comes as United Airlines holds a small minority stake in the embattled Brazilian carrier. The investment is to raise its stake to 8% from 2% as the US airline looks to capitalize on Azul’s domestic presence in Brazil.
United Airlines Holdings Inc. (NASDAQ:UAL) is a major American airline that provides comprehensive passenger and cargo transportation services, operating an extensive domestic and international network across six continents. The company focuses on air travel, logistics, and related services.
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