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Honeywell raises outlook for business jet deliveries as holiday travel takes off

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Honeywell International Inc on Sunday raised its outlook for business jet deliveries, as the aviation sector shakes off the effects of the COVID-19 pandemic with both national and international travel picking up with the easing of restrictions.

The U.S. industrial conglomerate forecast up to 7,400 new business jet deliveries worth $238 billion from 2022 to 2031, up 1% from the same 10-year forecast a year ago.

Honeywell Aerospace, the U.S. manufacturer of aircraft engines that had acquired AlliedSignal in 1999, generates approximately $10 billion in annual revenue from a 50/50 mix of commercial and defense contracts.

“The increased demand for used jets is estimated at more than 6,500 units over the next five years, putting pressure on an already record low inventory and driving additional demand for new jets,” said Heath Patrick, president of Americas aftermarket for Honeywell Aerospace.

Last month, planemaker Boeing Co also revised up its long-term demand forecasts with a rebound in commercial air travel in markets like the United States.

With Halloween day fast approaching, travel is gaining momentum in the country with the good news coming from Dr. Anthony Fauci that parents can safely allow their children to trick-or-treat outdoors.

“It’s a good time to reflect on why it’s important to get vaccinated,” Fauci said. “Go out there and enjoy Halloween as well as the other holidays that will be coming up.”

Kids who can get vaccinated for the coronavirus should do so for an “extra degree of protection,” he added. The vaccines have been authorized for kids 12 and up by the Food and Drug Administration. The FDA could provide similar emergency authorization for children ages 5 through 11 in the days before Halloween

While average daily infections have fallen to about 95,000, from an average of more than 150,000 a day last month, “that’s still way too high.” he sounded cautious amidst the holiday celebrations coming up.

Biden had declared “independence” from Covid-19 on July 4, only to see the delta variant push infections to record levels in many states. The virus spread is finally falling again after a wave nearly as bad as the one last winter.

But experts have warned that if we start acting as if COVID-19 is over, another surge is possible. If people stop taking precautions, start gathering indoors in large numbers and shrug off vaccines or boosters, another wave could strike this winter.

“A lot of it depends on human behavior, and human behavior in this pandemic hasn’t served us very well,” CDC director Dr. Rochelle Walensky had commented recently. “We are battling with ourselves, not with the common foe.”

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