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Boeing raises India forecast for plane demand by 9.8%
MUMBAI — Boeing raised its 20-year India market forecast by 9.8 per cent, at least the third increase in a row, as economic growth spurs business and leisure travel.
Carriers in the Asian nation will need 1,450 new aircraft, worth $175 billion through 2031, Dinesh Keskar, Boeing’s senior vice-president for India and Asia Pacific sales said at a Press conference in New Delhi. That compares with a previous forecast for 1,320 planes in the two decades ending 2030.
South Asian passenger numbers will grow 8.4 per cent a year through 2031, the quickest pace worldwide, because of rising wages and new airports, Keskar said. Indian Prime Minister Manmohan Singh plans to attract $1 trillion in infrastructure investments by 2017 and to boost economic growth to nine per cent.
Passenger number on Indian domestic routes rose 1.7 per cent in the first seven months of 2012 to 35.4 million, the Directorate General of Civil Aviation said in a report published on its website.
Separately, Keskar said that three 787s were ready for delivery to Air India. It’s up to the airline to decide when to take the aircraft, he said. The handover had been expected to happen as early as August 28, an official at the state-owned carrier said last month. The delivery has been delayed by talks on compensation for earlier delays caused by Boeing’s struggle to adopt new materials and production techniques.
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