Travel recovery boosts General Electric and Raytheon’ jet engine revenues

General Electric and Raytheon Technologies’ aircraft engine units are experiencing a boost in sales and repairs as air travel recovers, and Boeing and Airbus increase their production rates of new planes.

General Electric’s aerospace unit saw a 25% increase in sales in Q1, reaching $6.98 billion, due to an increase in shop visits and spare parts for engines made for Boeing’s 737 Max planes and Airbus’ A320 family of narrow-body aircraft. Raytheon’s Pratt & Whitney engine unit sales rose 15% to $5.23 billion, while its Collins Aerospace unit, which makes avionics to aircraft interiors, rose 15% to $5.58 billion.

The surge in travel demand has increased demand for new jets and maintenance on older planes, and both Boeing and Airbus are trying to increase their output of new planes. Although Boeing had planned to deliver around 400 737 Max jets this year, a manufacturing flaw disclosed earlier this month could affect some deliveries.

However, CEO Dave Calhoun confirmed that the problem won’t change Boeing’s orders from suppliers as the company aims to increase production rates.