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General Dynamics’ jet maintenance unit to take hit from Western sanctions -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A General Dynamics NASSCO Shipyard entrance in San Diego (California), U.S.A, June 17, 2019 REUTERS/Mike Blake

(Reuters] – General Dynamics Corp (NYSE ) indicated Wednesday that its aviation business will be affected by Western sanctions against Moscow for its invasion in Ukraine. The weapons manufacturer made the statement at J.P. Morgan Industrials.

Jet Aviation is responsible for the maintenance, repair, overhaul, and overhaul (MRO) of planes. It will likely be primarily hit in Geneva but may also get some attention in Basel in Austria.

Phebe Novakovic is the chief executive officer at General Dynamics. She stated, “It would have folly to believe that the jet business, in particular given their location, won’t make an impact.”

Novakovic indicated that Novakovic is currently analyzing the impacts and does not have an estimate.

According to weapons manufacturer Gulfstream, some effects on managed aircraft business are expected from the current sanctions.

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