July 30 (Reuters) - Howmet Aerospace ( HWM ) on Tuesday

lifted its annual forecasts, driven by strong demand for its

engine products and fastening systems from planemakers aiming to

meet a surge in air travel.

The company also raised its buyback program by $2 billion

and quarterly dividend by 60% to 8 cents per share.

Shares of the company, which supplies parts to Airbus

and Boeing ( BA ), jumped 8.6% premarket after the

second-quarter results also topped estimates.

Pennsylvania-based Howmet now expects 2024 revenue between

$7.40 billion and $7.48 billion, up from its prior forecast of

$7.23 billion to $7.38 billion.

"Outlook for commercial aerospace continues to be robust,

with strong travel demand and an aging aircraft fleet, leading

to an extremely high backlog at the aircraft OEMs," CEO John

Plant said in a statement.

Howmet, one of the main suppliers of aerospace castings,

expects annual adjusted earnings between $2.53 and $2.57 per

share, compared with estimates of $2.39 per share.

In the second quarter, commercial aerospace sales were up

27% which helped boost the company's overall sales at $1.88

billion, ahead of estimates of $1.84 billion, as per LSEG data.

On an adjusted basis, the company earned 67 cents per share

for the quarter ended June 30.

(Reporting by Anandita Mehrotra in Bengaluru; Editing by Anil

D'Silva)