Boeing raises aircraft requirement forecast for India by 15%

Mumbai: On the back of recovery in air travel, US-based aircraft manufacturer Boeing has raised its 20-year forecast for demand of aircraft in India by 15% at 1,150 commercial airplanes worth $130 billion (Rs 5,98,000 crore).
In 2009, the company had projected a demand for 1,000 aircraft worth $100 billion (Rs 4,60,000 crore) over two decades. Currently, there are 500 aircraft in the domestic skies and collectively airlines like Air India, Jet Airways and SpiceJet will collectively need 30% more aircraft within three years owing to a pick up in air travel demand, say analysts.
According to Dinesh Keskar, president of Boeing, India, “There is strength and resilience in the Indian commercial sector. The potential for future growth of air travel, both domestically and internationally, is among the greatest in the world.”
Keskar further said India’s economy is slated to grow at 8.5% annually over the forecast period. The country’s economic growth remains among the strongest in the world, along with record growth in air travel due to liberalisation and favorable economic conditions.
06/08/10 Financial Express

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Categories: Indian Aviation- In General Aug 2010