Boeing says China to buy planes worth US$1t over next 20 years
[BEIJING] Chinese airlines are likely to purchase 6,810 planes worth US$1.025 trillion in the next 20 years as they expand fleets to cater to robust growth in domestic and overseas tourism, Boeing Co forecast on Tuesday.
The latest estimate of 6,810 planes is 7.6 per cent higher than the 6,330 aircraft predicted last year.
"The continuing expansion of China's middle class, coupled with new visa policies and a wide range of widebody airplanes... gives us every reason to expect a very bright future for China's long-haul market," Randy Tinseth, Boeing Commercial Airplanes'vice president of marketing, said in a statement.
He also said that he expects passenger traffic to grow 6.4 per cent in China annually over the next 20 years.
Boeing has stayed bullish on China even as other US companies have expressed concern over the country's slower economic growth. A senior Boeing executive said in August that the plane maker was not seeing any softness in demand in China.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Capital A chief Fernandes defers retirement, renews contract for five years
Victims’ families to urge US prosecute Boeing over fatal crashes
Tesla could start selling Optimus robots by the end of next year, Musk says
FAA probes union claims Boeing retaliated against two engineers in 2022
Tesla profits tumble but shares rise on new vehicle plan
Tesla to cut more than 6,000 jobs across Texas, California