Boeing Co. has forecast that India will require 1,740 new airplanes valued at $240 billion in the next two decades as domestic passenger traffic is expected to grow more in the future. Air traffic in the country jumped almost 20 per cent in the first six months of 2015 to 38.83 million passengers. Dinesh Keskar, senior vice president of sales for Asia Pacific and India for Boeing's commercial airplanes briefed, “India has become a market where nobody can walk off. The $2.3 trillion Indian economy will become the third largest market in the world by 2034. Indian domestic passenger traffic will be very high in the next two decades and there is a lot of potential for us to sell planes.” Keskar also added that a drop in global ATF prices and stability of the Indian rupee since October 2013 has helped the aviation industry make profit in the last few quarters. At present the aviation industry in the country is on a recovery zone with prominent player SpiceJet posting profit in their last quarterly result and Indigo proposing a whooping Rs 2,500 crore initial public offer (IPO). On the demand of Boeing planes in India, he said, “More than 80 per cent of the demand is expected to be for single-aisle planes such as the Boeing 737 and Airbus 320 and only while 15 per cent would be for wide-body aircraft.”
12/08/15 Business World
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12/08/15 Business World
