Asia-Pacific Aerospace Briefs Today
January 27th 2022
Raytheon Technologies Corporation, the parent company of Collins Aerospace and Pratt & Whitney, has reported a net profit of US$3.9 billion for the 12 months to December 31, swinging back to the black from a US$3.1 billion net loss in the previous year. Read More » Revenue rose 14%, to US$64.4 billion. "Raytheon Technologies is entering 2022 with continued momentum and resilience. The long-term outlook for our commercial aerospace and defense markets remains strong," Raytheon CEO, Greg Hayes, said in the company's full-year results presentation.
GE said profits at its aviation business rose to US$2.9 billion in the 12 months to December 31, from US$1.2 billion a year ago. Revenue increased 19%, to US$25.6 billion, and is forecast to increase another 20% in the current year "dependent on the continued commercial market recovery, GE said in its full-year results announcement.
