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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 371.65-1.1%Nov 17 4:00 PM EST
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To: TobagoJack who wrote (136641)11/10/2017 12:42:49 AM
From: Elroy Jetson  Read Replies (2) of 217844
 
What you meant to say is, China just signed a flurry of deals with itself for one Chinese State-Owned Enterprise to repair and overhaul the jet engines owned by another Chinese State-Owned Enterprise Airline. The deal is worth what ever fantasy number government-accountants in China say it's worth.

The Real Details: GE sold jet engines to a Chinese airline, Juneyao Airlines based in Shanghai, which is a State-Owned Enterprise with some public shares.

As part of any jet engine sale, government-owned airlines, like Saudi Arabia as an example, usually specify that later repair and overhaul work has to be done locally in their country. That's fine by GE or Rolls Royce as the local has to buy genuine parts or the warranty is voided.

If the locals do crap work, that's a problem for the airline, not GE or Rolls Royce. And it's the airline paying the bill for the overhaul work, not GE or Rolls Royce. If the engines get damaged prematurely, the engines are owned by the Chinese government leasing company and one of the three Chinese SOEs will take the loss and they can buy another engine from GE.

With the Chinese government ladling out government funds for a Belt-Road-and-Suspenders energy festival, GE is of course ready and available to sell China what ever trinkets might be needed from the GE catalogue.
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