BofA Analyst Highlights Mixed Commercial Aerospace Engine Performance in May 2026
Bank of America analyst Benjamin Heelan reported that global commercial flight cycles contracted 2% year‑over‑year in May 2026, underscoring a bifurcation between newer and older aircraft platforms. Widebody‑linked engines delivered the strongest month‑over‑month improvement; General Electric’s GE90 engine posted a –3.1% year‑over‑year change, while Rolls‑Royce’s Trent 800 cycles declined 4.1% YoY. Both the GENX and Trent 1000 engines that power the Boeing 787 showed modest movements, with GENX down 3.4% YoY and Trent 1000 up 0.9% YoY.
Legacy narrowbody platforms deteriorated further. The CFM56 family fell 9% YoY, with the CFM56‑5B (used on the Airbus A320ceo) down 11% and the CFM56‑7B (on the Boeing 737NG) down 7% YoY. The V2500 engine family experienced the steepest decline at 18% YoY.
In contrast, newer‑generation narrowbody engines maintained solid growth. CFM LEAP engines rose 17% YoY and the Pratt & Whitney Geared Turbofan (GTF) family increased 18% YoY. Both families power the Airbus A320neo platform, which itself recorded a 14% YoY rise in daily flight cycles.
Regionally, the Middle East showed a recovery in monthly cycles to –24% in May, improving from –39.5% in April. Africa posted a 12.5% growth in cycles, while Europe and North America each registered modest gains. Asia‑Pacific and Latin America experienced month‑over‑month declines.
Market reaction reflected the mixed performance: Boeing shares rose 6.03%, Airbus up 0.17%, Rolls‑Royce gained 1.73%, and General Electric advanced 4.42%.