5,000 NEW AIRPLANES NEEDED IN CHINA BY 2031
Boeing, China's leading provider of passenger airplanes, on Wednesday forecast that China will need 5,260 new commercial airplanes by 2031, the China Daily reported.
Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes, said Wednesday that these airplanes will cost China a total of $670 billion over the next 20 years, the paper said.
Tinseth said driven by market demand, airline companies in China are expected to expand international business at an average annual rate of 8.9 percent in the coming 20 years, the paper said.
Over 75 percent of the 5,260 airplanes needed would be used to meet increased market demand, not serving as replacements for old planes, he said.
Tinseth expects China to be the second-largest market for new commercial airplanes, adding that strong, sustained economic growth, growing trade activity and increasing personal wealth are some of the driving forces behind the trend, the paper said.
06/09/2012 : Xu Weiwei / Morningwhistle.com
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