Asia-Pacific airlines seen acquiring 8,000 new aircraft over next 20 years

Airlines in Asia and the Pacific will acquire some 8,000 new passenger and cargo aircraft over the next 20 years, according to European aircraft manufacturer Airbus.
Valued at US$1.2 trillion, the requirement represents one third of predicted global deliveries between now and 2028, with the region driving demand for larger aircraft types.
The manufacturer's latest forecast for the region was presented today at the Singapore Airshow by John Leahy, Airbus Chief Operating Officer.
In the passenger market Airbus predicts that traffic in the region will grow at an average annual rate of 5.9 percent, while cargo traffic will increase by 6.3 percent per year. This compares with a global average of 4.7 percent for passenger traffic and 5.2 percent for air freight. As a result of this growth and continuous fleet replacement, the region is expected to take delivery of some 880 very large aircraft, 2,570 twin aisle wide-bodies and 4,560 single aisle aircraft.
The high proportion of larger aircraft types reflects the concentration of populations around main urban centers in the region, generating high density traffic on key intra-regional routes, as well as to capacity constrained international destinations in Europe and North America. Meanwhile, demand for single aisle aircraft in the region is expected to accelerate in the coming years, driven by the growth of low-cost carriers and opening of new routes between secondary destinations, especially in China, India and South East Asia.
06/02/10 mb.com.ph, Philippines

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Categories: Foreign Feb 2010, Indian Aviation- In General Feb 2010