Reuters
GE Aerospace on Tuesday raised its full-year profit forecast, citing a "solid start to the year" on strong demand for jet-engine parts and services as airlines keep their older planes in the air to tide over a shortage of new commercial aircraft. The company now expects 2024 operating profit of $6.2 billion to $6.6 billion, compared with its earlier forecast of $6 billion to $6.5 billion. Since then, Wall Street analysts have been bullish on the prospects of the aerospace business, with some citing the dominant lead of CFM International, GE's joint venture with Safran, as a supplier to Airbus' A320neo family of jets, over competing engine maker Pratt & Whitney.