Boeing taps GE exec to lead commercial airplanes unit

New York

BOEING Co on Monday named a senior General Electric Co (GE) executive to head its commercial airplanes division and announced a new services unit, in moves to capture more of the profitable market for parts and repairs after a jet is sold.

The changes are "a big and important step" towards Boeing's goal of increasing annual services revenue to about US$50 billion in 10 years from about US$15 billion currently, Boeing chief executive Dennis Muilenburg said on a call with journalists. "We've always said growing services is a core part of our strategy, and now you see us emphasising and investing accordingly," Mr Muilenburg said.