GE Aviation revenue slips due to Boeing 737 grounding

GE Aviation’s second-quarter revenue slipped 1.1% year over year to $28.8 billion. The grounding of the Boeing 737 Max is said to have been the main catalyst, taking nearly $300 million out of General Electric’s second-quarter results.Further, the firm has warned the grounding could see a decline of nearly $800 million in earnings in the second half of 2019.Meanwhile, organic revenue for its core industrial businesses, excluding acquisitions, dispositions and currency fluctuations increased7.4% to $27.7 billion. GE Aviation posted a total number of orders valued at $8.6 billion in the period, down 10% from the same quarter of 2018.