RTX lifts 2024 profit forecast on strength in aviation sector By Reuters

(Reuters) – U.S. aerospace and defense company RTX raised its full-year profit forecast on Thursday, driven by a rebound in the broader commercial aviation sector.

Shares of the company were up about 2% in premarket trading.

Airlines are flying older aircraft to meet the surge in air travel demand amid a shortage of new jets, leading to a bustling aftermarket business and benefiting companies such as RTX.

RTX expects full-year adjusted profit to be between $5.35 per share and $5.45 per share, compared with its prior forecast range of $5.25 per share and $5.40 per share.