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Thu, Aug 05, 2010

Boeing Boosts Plane Purchase Forecast In India

Raised The Estimate Of Jets Sold By 15 Percent Over Next 20 Years

Boeing forecasts that the Indian aviation market will require 1,150 commercial jets valued at approximately $130 billion over the next 20 years -- a market representing more than four percent of Boeing Commercial Airplanes’ worldwide forecast .

Boeing India President Dinesh Keskar shared the forecast at a press briefing Tuesday in New Delhi that featured Boeing’s view of India’s future commercial airplane market.

“There is strength and resilience in the India commercial aviation sector over the long term,” Keskar said. “The potential for future growth of air travel, both domestically and internationally, is among the greatest in the world and Boeing will continue its efforts to be India’s preferred partner and aerospace provider.”

India’s economy is slated to grow at 8.5 percent 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 liberalization and favorable economic conditions.

Keskar said air travel in India, tied closely to the country’s economic growth, will largely recover by 2011. The operating environment for India’s carriers shows a positive turn. Passenger numbers, load factors and yields have an upward trend on domestic and international services.

“We went through the deepest recession in the history of aviation but now India’s recovery is one of the fastest. We believe there will be a record 50 million passengers this year if the trend continues,” Keskar said. “If you take a broad look at the India market, what resonates is more positive than negative and the prospect for continued long-term growth remains high.” Keskar noted that Indian airlines carried a record 44 million passengers in 2009 and air travel in India.

“Boeing is committed to work in partnership with India and doing our utmost to play a role in the country’s ongoing prosperity,” Keskar said.

FMI: www.boeing.com

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