Oct 22 (Reuters) - GE Aerospace raised its

full-year profit forecast for the third time this year on

Tuesday, driven by strong demand for aftermarket services from

airlines that are relying on older planes to make up for the

shortage of newer aircraft.

Production issues at Boeing ( BA ) and Airbus have

led to slower delivery of newer planes, troubling the airline

industry, which is seeing unprecedented demand for air travel.

That has forced carriers to keep older jets in the air,

driving up maintenance costs and helping the sales of spare

parts and services provided by companies such as GE Aerospace.

The company expects an adjusted profit of $4.20 per share to

$4.35 per share for 2024, compared with its prior forecast of

$3.95 to $4.20 per share.

CFM, its joint venture with France's Safran, is an

engine supplier for Boeing's ( BA ) 737 MAX jetliners and

competes with RTX's Pratt & Whitney to power Airbus

320neo jets.

Profit at the company's commercial engines and services

segment was up 16% to $1.8 billion on revenue of $7 billion,

which rose 8% from a year earlier.

The company said its adjusted profit for the quarter through

September was $1.15 per share, compared with 92 cents reported a

year earlier.

However, like the rest of the industry, supply chain issues

have hindered GE's ability to ramp up production of new engines

and parts.

Airbus was compelled to lower its full-year jet

delivery targets in July, blaming delays in deliveries of LEAP

engines built by CFM, among other parts.

GE Aerospace's total revenue rose 6% to $9.84 billion for

the third quarter ended Sept. 30.

(Reporting by Shivansh Tiwary in Bengaluru; Editing by Anil

D'Silva)