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Boeing raises 20-year outlook
Source: Bloomberg News |
September 6, 2012, Thursday
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Print Edition
BOEING Co yesterday raised its 20-year China commercial aircraft market forecast by 5.2 percent, at least the third straight increase, as economic growth and rising incomes spur air travel in the world's most populous nation.
Carriers in China will need 5,260 new planes worth US$670 billion through 2031, according to a forecast the Chicago-based plane maker released in Beijing. The company last year predicted the country would need 5,000 new planes with a value of US$600 billion through 2030.
Passenger numbers in China may rise 5 percent this year and the next, Boeing said. The firm on Tuesday also raised its India market forecast as Asian carriers expand their fleet to meet rising leisure and business travel demand. Airbus SAS has said emerging markets will represent more than half of all traffic growth in the next two decades.
"China is one of those markets where we've consistently underestimated the growth," said Randy Tinseth, Boeing's vice president for marketing. "Sustained strong economic growth, growing trade activities and increasing personal wealth are some of the driving forces."
Boeing has won orders for 40 B737s from Xiamen Airlines Co, 10 B777s from Xiamen Air's parent China Southern Airlines and 20 B777s from China Eastern Airlines this year. Xiamen Air is also in talks to order 30 B737 MAX planes, an official at the airline said last month.
Carriers in China will need 5,260 new planes worth US$670 billion through 2031, according to a forecast the Chicago-based plane maker released in Beijing. The company last year predicted the country would need 5,000 new planes with a value of US$600 billion through 2030.
Passenger numbers in China may rise 5 percent this year and the next, Boeing said. The firm on Tuesday also raised its India market forecast as Asian carriers expand their fleet to meet rising leisure and business travel demand. Airbus SAS has said emerging markets will represent more than half of all traffic growth in the next two decades.
"China is one of those markets where we've consistently underestimated the growth," said Randy Tinseth, Boeing's vice president for marketing. "Sustained strong economic growth, growing trade activities and increasing personal wealth are some of the driving forces."
Boeing has won orders for 40 B737s from Xiamen Airlines Co, 10 B777s from Xiamen Air's parent China Southern Airlines and 20 B777s from China Eastern Airlines this year. Xiamen Air is also in talks to order 30 B737 MAX planes, an official at the airline said last month.
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