July 24, 2020 / 10:41 AM / in 17 days

Honeywell profit falls 30% as virus hits aerospace sales

July 24 (Reuters) - Diversified U.S. manufacturer Honeywell International Inc on Friday reported a 30% slump in quarterly profit, hit by a sharp fall in demand for aircraft spare parts as airlines park or retire thousands of planes due to the COVID-19 pandemic.

Net income attributable to Honeywell fell to $1.08 billion, or $1.53 per share, in the second quarter ended June 30, from $1.54 billion, or $2.10 per share, a year earlier.

Revenue for the company, which makes parts for planes made by Boeing Co and Airbus SE, fell about 19% to $7.48 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)

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