Until recently jet engine makers such as General Electric Co., Safran SA and Rolls-Royce Holdings Plc had never had it so good. As travel recovered following the pandemic their cash flows and profits soared. Investors like British hedge fund manager Chris Hohn who spotted their strengths — high technical barriers to entry and a massive installed base that creates lucrative long-term maintenance opportunities — have made fortunes. GE and Safran are among his TCI Fund Management’s largest position
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