General Electric shares cratered to a 3-decade low as concern spreads that the airline industry’s pain will be even deeper than originally feared. The company has been fighting off one piece of bad news after another for the entire duration of the cornavirus crisis. Last week, celebrity investor Warren Buffet admitted he’d sold off major airline shareholdings after making a mistake about how badly they would be impacted by the health crisis. This week, Boeing said its orders for jets had fallen below 5,000 for the first time in seven years. That’s a problem for General Electric since it supplies engines to the airplane manufacturer. GE Aviation is the company’s single largest business segment, bringing in revnues of $6.89 billion during the first quarter of 2020. That’s far more than the second closest division, GE Healthcare, which made a comparitively small $4.37bn.
