General Dynamics’ jet maintenance unit to take hit from Western sanctions

(Reuters) – Normal Dynamics Corp stated its jet aviation enterprise is prone to be impacted by Western sanctions on Moscow over its invasion of Ukraine, the weapons maker stated on the J.P. Morgan Industrials convention on Wednesday.

The Jet Aviation unit, which offers with upkeep, restore and overhaul of airplanes, is prone to be hit primarily in Geneva and considerably in Basel, Austria, the corporate stated.

“It might be folly to suppose that the jet (enterprise), particularly, given the place they’re positioned will not see some affect,” stated Phebe Novakovic, chief govt officer of Normal Dynamics.

Novakovic stated the corporate is accessing the affect and would not have an estimate for the time being.

The weapons maker, which manufactures the Gulfstream enterprise jet, additionally stated that some affect on its managed airplane enterprise is anticipated because of the ongoing sanctions.

(Reporting by Nathan Gomes in Bengaluru; Modifying by Shailesh Kuber)