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GE shares were up 6% at $113.14 in pre-market hours. The Boston-based group now expects 2023 adjusted profit per share of $2.55 to $2.65, compared with an earlier forecast of $2.10 to $2.30. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in commercial engines and services," CEO Larry Culp said in a statement. GE's aerospace unit, which makes engines for Boeing Co (BA.N) and Airbus (AIR.PA) jets, posted double-digit growth in orders, revenue and profit from a year earlier. Shares of its aerospace unit will continue GE's listing on the New York Stock Exchange under the ticker symbol "GE", the company said.

Persons: Benoit Tessier, Larry Culp, RTX, Pratt, Whitney, Culp, Rajesh Kumar Singh, Sriraj Kalluvila, Jason Neely, Jan Harvey Organizations: Electric, GE, Boeing, Paris, REUTERS, General, GE Aerospace, Boeing Co, Airbus, New York Stock Exchange, AerCap Holdings, Thomson Locations: Le Bourget, Paris, France, Boston, Chicago, Bengaluru

RTX said on Monday it would have to pull 600 to 700 of its Pratt & Whitney Geared Turbofan (GTF) engines from Airbus A320neo jets for quality inspections over the next three years. The engine issue was first disclosed in July, but RTX made the extent of the problem clearer on Monday. The announcement caused waves up and down the industry, from component manufacturers like Japan's Kawasaki Heavy Industries to airline carriers like Germany's Lufthansa that rely on the popular Airbus jets. In July, RTX said microscopic contaminants were found in a powdered metal used in high-pressure turbine discs that are part of the GTF engine's core. RTX is one of two manufacturers of engines for the popular narrowbody Airbus A320neo, the other being CFM International, a joint venture between GE (GE.N) and Safran (SAF.PA).

Persons: Benoit Tessier, RTX, Guillaume Faury, Ken Herbert, Japan's IHI, Safran, Valerie Insinna, Rajesh Kumar Singh, Abhijith, Aniruddha Ghosh, Mehr Bedi, David Gaffen, Arun Koyyur Organizations: Raytheon Technologies Corporation, International Paris Air, Le, REUTERS, Aerospace, Airbus, Pratt & Whitney, Washington D.C, Japan's Kawasaki Heavy Industries, Lufthansa, Raytheon, United Technologies, Capital, AIRLINES, HIT Aerospace, London, Melrose Industries, Kawasaki Heavy Industries, Aero, Air New Zealand, Singapore Airlines, Wizz, Airbus A320neo, CFM International, GE, Thomson Locations: Le Bourget, Paris, France, Washington, RTX, New Delhi, Bengaluru

GE's aerospace unit, which makes engines for jets of Boeing Co (BA.N) and Airbus (AIR.PA), posted double-digit growth in orders, revenue, and operating profit from a year earlier. Its services revenue was up 31% in the second quarter from a year ago. The Boston-based company now expects 2023 adjusted profit per share of $2.10 to $2.30, compared with its previous forecast of $1.70 to $2.00. Free cash flow for the year is estimated to be in a range of $4.1 billion to $4.6 billion, up from $3.6 billion to $4.2 billion expected previously. GE said operating profit at its aerospace business was now expected to be in a range of $5.6 billion to $5.9 billion this year, up from $5.3 billion to $5.7 billion estimated earlier.

Persons: Larry Culp, France's Safran, Culp, Rajesh Kumar Singh, Kirsten Donovan, Mark Potter, Louise Heavens Organizations: General Electric Co, Boeing Co, Airbus, Boeing, GE, Thomson Locations: Boston, Chicago, Bengaluru

CHICAGO, March 14 (Reuters) - U.S. airlines on Tuesday tried to reassure investors about the strength of travel demand, a day after United Airlines (UAL.O) stoked worries about the industry's pricing power. Even as executives in other sectors of the economy have warned of recession risks, airline chief executives until now have remained upbeat as consumer travel demand stayed strong. Delta reaffirmed its first-quarter outlook, saying travel demand is strong and getting stronger. American Airlines (AAL.O) CEO Robert Isom said the Texas-based carrier was enjoying "tremendous" demand. Airline ticket prices have gone up due to persistent capacity constraints and an unending thirst for travel after pandemic-related restrictions ended.

A jump in air travel demand has driven up sales at its aerospace division, which makes and services engines for Boeing Co (BA.N) and Airbus SE (AIR.PA) jets. GE also reiterated its profit outlook for 2023 as booming demand in its aerospace business is expected to make up for the challenges in its renewable energy business. It expects adjusted earnings of $1.60 to $2.00 per share in 2023, with revenue growth percentage in high single digits. GE estimated that the aerospace business would generate double-digit revenue growth this year, translating into an operating profit of $5.3 billion-$5.7 billion. However, supply and labor shortages have hurt jet engine output, with CEO Culp saying it was a daily battle to meet jet engine demand.

CHICAGO, Jan 24 (Reuters) - General Electric Co (GE.N) on Tuesday reported better-than-expected quarterly earnings on robust demand for its jet engines and power equipment, but offered a disappointing profit forecast for this year as it struggles with persistent problems at its renewable energy business. It, however, forecast an operating loss between $200 million and $600 million for its energy business GE Vernova in 2023. The company's renewable energy business has been facing challenges due to inflation and supply chain pressures. Culp said high inflation is also posing a challenge for offshore wind business as it is making customers review economics of their projects. He expects inflation to be a "test" for the company even as it adjusts its prices to offset higher costs.

FAA officials said a preliminary review traced the outage to a damaged database file, but added there was no evidence of a cyberattack and the investigation was continuing. FAA officials said they were working to "further pinpoint the causes" so the problem can be avoided in the future. One issue airlines are facing is trying to get planes in and out of crowded gates, which is causing further delays. He described confusion as airline employees and many passengers were initially unaware of the FAA's moves and flight delays. The U.S. Travel Association, which represents the travel industry including airlines, called the FAA system failure "catastrophic."

Oct 25 (Reuters) - General Electric Co (GE.N) on Tuesday trimmed its full-year profit forecast after reporting a decline in third-quarter earnings, primarily due to higher warranty and related reserves at its renewable energy business. The company, which is in the process of breaking up into three companies, is facing challenges at its onshore wind business. The restructuring will also affect jobs at its renewable energy unit's headquarters, he said. The company said corporate restructuring along with cuts at renewable energy business will cost $1.3 billion and generate $950 million in annualized savings. Excluding a $500 million warranty and related reserves at its renewable energy business, quarterly profit would have been 75 cents a share.

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