GE to Shut Down Corporate Jet Fleet in Cost-Cutting Move
21 September 2017 - 2:07AM
Dow Jones News
By Thomas Gryta and Mark Maremont
General Electric Co. executives will have to find new ways to
fly around the globe.
The conglomerate is grounding its corporate fleet of jets as new
CEO John Flannery continues to look for ways to slash costs at the
industrial giant.
Mr. Flannery is cutting spending in GE corporate operations,
including unwinding the internal airline for corporate executives,
effective Wednesday, according to a person familiar with the
situation. GE will still operate some helicopters and other
aircraft overseas, while using charter services as needed.
Write to Thomas Gryta at thomas.gryta@wsj.com and Mark Maremont
at mark.maremont@wsj.com
(END) Dow Jones Newswires
September 20, 2017 11:52 ET (15:52 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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