Boeing Expects Indian Carriers To Start Buying New Planes In 2011

New Delhi: Boeing Co. (BA) expects Indian carriers to start placing fresh orders for buying planes next year as the aviation industry continues to benefit from a steady rise in passenger traffic, the head of its local unit said Friday.
"The Indian aviation industry is looking good," Dinesh Keskar, president of Boeing India, told reporters on the sidelines of an industry event.
Boeing's expectations of new plane orders signify a turnaround in India's aviation industry from the global financial crisis, which hit air traffic in 2008 and early 2009. High jet fuel costs added to the industry's woes and pushed airlines into heavy losses.
The global recession had forced Indian carriers to cut capacity and defer or cancel deliveries of new planes from Boeing and Airbus.
Boeing's customers in India include Jet Airways (India) Ltd. and budget carrier SpiceJet Ltd.
Keskar said the company will announce its new forecast for commercial aircraft sales for India next month.
25/06/10 Nikhil Gulati/Dow Jones/Wall Street Journal

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Categories: Indian Aviation- In General Jun 2010