GE was awarded two contracts worth $177 million.

The Air Force awarded the contracts to General Electric less than 24 hours after it partially lifted a ban against giving any new Pentagon business to the company. Both contracts, one for $173.1 million and the other for $4 million, went to the company’s Aircraft Engine division, although the Air Force had demanded that GE refund $168 million of what it said were excess profits earned by the firm in the manufacture of jet engines. The Air Force lifted the restriction against GE following assurances from top company executives that management reforms will be implemented to prevent further alleged contract abuses. GE was indicted in Philadelphia on March 26 on charges of defrauding the government of $800,000.