, which will own the company's trademark and provide long-term licenses to the other companies. GE's aviation business encompasses 39,400 commercial and 26,200 military aircraft engines.
GE will spin off its healthcare business in early 2023 and portfolio of energy businesses in early 2024 before turning into the aviation-focused GE Aerospace. "Leveraging GE’s multi billion-dollar global brand gives us a competitive advantage in our end markets, allowing these businesses to win in the future," chair and CEO Larry Culp said in a statement. "Built on a foundation of lean and innovation, these brands will continue our mission of building a world that works and provide our customers with an important reminder of the strengths they value in GE.
GE first announced the split in November 2021. At the time, the company said it expected to incur one-time separation, transition, and operational costs of approximately $2 billion related to the split.
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