Bob Lang breaks down GE Aerospace (GE) earnings. He notes its strong free cash flow, quarterly dividend, and continued share buybacks, saying it means the company is in “great condition”. His “only concern” is spending reductions from the new U.S. administration. On American Airlines (AAL), he’s concerned about the cost per average seat mile (CASM) and how the company is managing its spending. However, he expects its demand to stay strong.