Oct 22 Reuters RTX on Tuesday raised its 2024 adjusted profit and sales forecasts for the second time, citing strong demand for aircraft repairs and defense systems, and reported betterthanexpected quarterly earnings.

Shares of the Arlington, Virginiabased company were up around 1 before the opening bell.

The aerospace and defense giant expects fullyear adjusted profit per share to be between 5.50 and 5.58, compared with its prior forecast range of 5.35 to 5.45.

The company raised its revenue forecast range to 79.25 billion to 79.75 billion, from 78.75 to 79.5 billion.

With a surge in air travel demand, airlines had to extend the service life of aircraft amid the limited availability of new commercial planes, creating a bustling aftermarket business.

RTX reported a thirdquarter pershare profit of 1.45, beating estimates of 1.34, as per LSEG data. Adjusted sales rose 6 to 20.1 billion, above expectation 19.85 billion.

RTX unit Pratt Whitney, which competes with CFM International to supply jet engines for Airbus39; A320neo family of aircraft, posted a thirdquarter operating profit 557 million, compared to a yearago loss, on demand for repairs.

The business is navigating an ongoing inspection drive to check for flawed components in its geared turbofan GTF jet engines that has led to grounding for hundreds of aircraft in recent months.

RTX39;s Collins Aerospace business, which provides defense products such as test and training range systems and crew escape systems,…