26 Oct 2009

Boeing expects recovery to fuel demand for planes

10:19 pm on 26 October 2009

Almost 30,000 new passenger aircraft are needed over the next 20 years to meet growing worldwide demand and replace old planes, according to aeroplane manufacturer Boeing.

The company says the global downturn has bottomed out and the economic recovery, albeit gradual, would be led by emerging markets such as China and countries in South-East Asia.

Boeing commercial airplanes vice-president of marketing Randy Tinseth says he expects increased passenger traffic in 2010 and the industry to return to profitability in the following year.

Boeing said it expected airlines to need 29,000 new airplanes over the next 20 years, due to growing passenger numbers and as old planes were retired.

Of those, 670 aircraft, worth about $US90 billion, would be bought by Oceania-based airlines such as Australian carriers Virgin Blue and Qantas.

The number of airplanes in Oceania was expected to more than double from 400 in 2008 to 850 by 2028, Boeing said.