• SPX
  • $5,797.42
  • -0.92 %
  • -$53.78
  • DJI
  • $42,514.95
  • -0.96 %
  • -$409.94
  • N225
  • $38,135.78
  • 0.08 %
  • $30.99
  • FTSE
  • $8,258.64
  • -0.58 %
  • -$47.90
  • IXIC
  • $18,276.65
  • -1.6 %
  • -$296.47

Aerospace giants form coalition to stop unauthorized parts from entering supply chain

By Reuters   |   Feb 22, 2024 at 11:20 AM EST
Aerospace giants form coalition to stop unauthorized parts from entering supply chain

(Reuters) - Aerospace giants including Airbus, Boeing and GE Aerospace on Thursday announced the formation of a coalition that would aim to prevent unauthorized parts from entering the global supply chain.

The move comes after jet engine maker CFM International, co-owned by GE Aerospace and France's Safran, last year said thousands of engine components may have been sold with forged paperwork by British distributor AOG Technics.

The group, Aviation Supply Chain Integrity Coalition, was launched on Thursday and would include senior representatives from American Airlines, Delta Air Lines, Safran, StandardAero and United Airlines, according to a statement.

Former National Transportation Safety Board Chairman Robert Sumwalt and former U.S. Transportation Deputy Secretary John Porcari will serve as coalition co-chairs, the statement added.

"Through this coalition, we will work to find lasting solutions that the industry can adopt to improve the overall integrity of the aviation supply chain," Porcari said.

(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva)

Did you find this insightful?


We are preparing, please wait

×
New Alert

Select an alert type

Choose sentiment spike or mentions spike or both to receive email alerts and app notification for the selected stock.
Note: Please be aware that you will receive an email only once a day, around 8:00 AM (EST), in the event of any spike.
In future if you don't want to receive any email then delete stocks added into alert section.

New Alert

Setup alert

×

Premium Content

This content is only available for premium members. Please become a paid member to access.

Download App

Currently, memberships can only be purchased through the app.

×

Log In


or

download app using google store Continue with Google download app using apple Continue with Apple

Email Verification

An email with a verification code has been sent to your email address.

Welcome to StockNews!

Create Your Account

Email Verification

An email with a verification code has been sent to your email address.