Western Sanctions To Negatively Affect General Dynamics' Jet Maintenance Unit: Reuters

March 17, 2022 2:28 PM | 1 min read | Make a Comment

General Dynamics Corp GD, at the J.P. Morgan Industrials conference held on March 16, 2022, stated that its jet aviation business is likely to be impacted by Western sanctions on Moscow over its invasion of Ukraine, reported Reuters.
The report added that the company's Jet Aviation unit is likely to be hit primarily in Geneva and somewhat in Basel, Austria.
"It would be folly to think that the jet (business), in particular, given where they're located won't see some impact," the report quoted Phebe Novakovic, CEO of General Dynamics.
Management is accessing the impact and doesn't have an estimate at present. General Dynamics also expects some impact on its managed airplane business due to the ongoing sanctions.
Price Action: GD shares traded higher by 1.60% at $231.33 on the last check Thursday.

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