Aerospace major Raytheon beats profit estimates on strong travel demand

A visitor walks past Raytheon stand at the 53rd International Paris Air Show at Le Bourget Airport near Paris
A visitor walks past Raytheon stand at the 53rd International Paris Air Show at Le Bourget Airport near Paris, France June 21, 2019. REUTERS/Pascal Rossignol

Jan 24 (Reuters) – Stinger missile maker Raytheon Technologies Corp (RTX.N)on Tuesday beat analysts’ estimates for fourth-quarter profit, as the aerospace and defense company fed off strong travel demand across the globe that boosted demand for its jet engines, parts and services.

Strong travel demand and supply chain disruptions have forced airlines to fly older planes for a longer period, boosting demand for high-margin after-market services at companies such as Raytheon, which counts Boeing Co (BA.N)and Airbus SE (AIR.PA) among its customers.

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