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General Electric Company's (NYSE: GE) GE Aviation has agreed with Transcend Air Corporation to develop and certify a custom variant of GE's class-leading CT7-8 turboshaft helicopter engine to power the Vy 400 High-Speed Vertical Takeoff and Landing (HSVTOL) aircraft.
The vertical takeoff and landing capabilities of the Vy 400 aircraft give Transcend Air access to demand-rich centers of major cities. The high-speed Vy 400 travels more than 400 miles per hour, making the journey from Manhattan to Boston 36 minutes.
"We immediately recognized the Vy 400's disruptive potential in both civil and military rotorcraft applications, and we are excited to contribute our own world-class engines and technical expertise in helping to ensure the Vy's success," commented Harry Nahatis, Vice President & General Manager of GE Rotorcraft Engines.
Price Action: GE shares closed higher by 2.30% at $106.08 on Tuesday.
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