General Electric and the government of the Czech Republic signed an investment agreement to build GE’s new turboprop headquarters outside the capital, Prague. The investment will double GE Aviation’s in-country employment.

Our growing presence in Europe will better position not only GE Aviation, but the continent of Europe, for the dynamic 21st century aerospace industry.

Many people would prefer flying in a private plane to dealing with the hassle at the airport. Those with $4.8 million in their pocket may soon have that choice. Textron Aviation just unveiled a new business aircraft powered by a propeller engine that features many of the comforts of a private jet, but at an entry-level price.

When GE Aviation bought the storied but obscure Czech turboprop builder Walter Aircraft Engines in 2008, the American company hadn’t developed a new propeller engine in decades.

GE unveiled a new advanced turboprop engine yesterday that produces 10 percent more power than its peers and burns 20 percent less fuel.

GE Aviation is excited to unveil its all-new turboprop engine, which has been selected by Textron Aviation Inc., a Textron, Inc. (NYSE:TXT) company, to power its single engine turboprop (SETP).