2021 U.S.-Booked Air Volume: $23 million
Consolidated Global TMC: CWT
GE’s revenue in 2021 fell by $1.6 billion year over year to
$74.2 billion. The conglomerate reported a loss of $3.7 billion after a profit
of $6 billion the prior year. In continued efforts to reduce billions in debt,
GE has been scrutinizing key risk areas, including entertainment and travel.
The Aviation unit was particularly impacted by the decline
in air travel, and the company cited in its annual report that global
departures were down 30 percent in 2021 compared with 2019. BTN estimates GE’s
2021 U.S.-booked air volume was $23 million, down from $33 million in 2020.
Following a restructuring in 2021 that included selling off
most of GE Capital, the company had 168,000 employees in 170 countries,
compared with 174,000 in 2020. As the company prepares to split into three
companies – centered on aviation, health care and energy – by 2024, more
layoffs are possible. Acquisitions in 2021 included BK Medical, Zionexa and
Opus One. The company also closed the acquisition of GE Capital Aviation
Services by AerCap Holdings N.V. transaction.
In 2021, GE announced an ambition to be a net-zero company
by 2050.