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RTX profit jumps 20% on aviation strength, military demand

Aerospace and defense major RTX on Tuesday reported a 20% jump in its first-quarter profit, helped by robust commercial aftermarket business and military equipment demand. The Arlington, Virginia-based company reported net income of $1.71 billion, or $1.28 per share, for the quarter ended March 31, compared with $1.43 billion, or 97 cents per share, a year earlier. The aftermarket business gained as airlines had to extend the service life of aircraft to keep up with the recovery in air travel amid the limited availability of new commercial planes.