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Boeing sees India orders of $86 bln over 20 years
Mon Jul 30, 2007 7:00AM EDT
By Unni Krishnan
NEW DELHI, July 30 (Reuters) - U.S. aircraft maker Boeing (BA.N: Quote, Profile, Research) expects airlines in India to buy more than 900 new planes worth over $86 billion in the next 20 years on the back of strong passenger growth in Asia's third-largest economy.
India's domestic aviation market is forecast to grow at about 20 percent a year over the next five years. From just four airlines three years back, India has more than 10 carriers now. "This demonstrates that Indian airline operators, not foreign carriers, are increasingly connecting India to the world by expanding their regional and global presence," said Dinesh Keskar, Boeing's senior vice president for commercial airplanes. The firm estimates the Indian air travel market will grow at an average 12 percent per year over the next 20 years, compared to the worldwide average of 4.7 percent.
"The Boeing company detailed its current market outlook for India projecting India's need for 911 new commercial airplanes worth more than $86 billion over next 20 years," according to a company statement.
Boeing has firm orders for more than 140 aircraft worth $20 billion from various Indian airlines, including Jet Airways (JET.BO: Quote, Profile, Research), Air India and SpiceJet (SPJT.BO: Quote, Profile, Research).
State-run Air India has already received the first plane of a 68 aircraft order in the form of a long-range Boeing 777-200 that will fly non-stop between Mumbai and New York.
It is likely to buy another 60 new planes by 2011 to expand operations and meet growing demand.
Jet Airways (JET.BO: Quote, Profile, Research), the country's top domestic airline, has also decided to buy three additional Boeing 777-300 aircraft, supplementing an earlier order for 30 new planes.
Boeing delivered 18 aircraft to Indian carriers between January and July this year worth more than $2.3 billion.
Boeing's rival Airbus (EAD.PA: Quote, Profile, Research)(EAD.DE: Quote, Profile, Research) expects Indian firms to place orders for 1,100 passenger and freighter aircraft valued at about $105 billion over 20 years.
Apart from passenger planes, Boeing is also among several global contenders to sell India as many as 126 advanced multi-role fighter jets in a deal that could be worth more than $8 billion.
((Editing by Mark Williams; Reuters Messaging: surojit.gupta.reuters.com@reuters.net, +91-11-4178-1016)) Keywords: BOEING INDIA/ Keywords: BOEING INDIA
Mon Jul 30, 2007 7:00AM EDT
By Unni Krishnan
NEW DELHI, July 30 (Reuters) - U.S. aircraft maker Boeing (BA.N: Quote, Profile, Research) expects airlines in India to buy more than 900 new planes worth over $86 billion in the next 20 years on the back of strong passenger growth in Asia's third-largest economy.
India's domestic aviation market is forecast to grow at about 20 percent a year over the next five years. From just four airlines three years back, India has more than 10 carriers now. "This demonstrates that Indian airline operators, not foreign carriers, are increasingly connecting India to the world by expanding their regional and global presence," said Dinesh Keskar, Boeing's senior vice president for commercial airplanes. The firm estimates the Indian air travel market will grow at an average 12 percent per year over the next 20 years, compared to the worldwide average of 4.7 percent.
"The Boeing company detailed its current market outlook for India projecting India's need for 911 new commercial airplanes worth more than $86 billion over next 20 years," according to a company statement.
Boeing has firm orders for more than 140 aircraft worth $20 billion from various Indian airlines, including Jet Airways (JET.BO: Quote, Profile, Research), Air India and SpiceJet (SPJT.BO: Quote, Profile, Research).
State-run Air India has already received the first plane of a 68 aircraft order in the form of a long-range Boeing 777-200 that will fly non-stop between Mumbai and New York.
It is likely to buy another 60 new planes by 2011 to expand operations and meet growing demand.
Jet Airways (JET.BO: Quote, Profile, Research), the country's top domestic airline, has also decided to buy three additional Boeing 777-300 aircraft, supplementing an earlier order for 30 new planes.
Boeing delivered 18 aircraft to Indian carriers between January and July this year worth more than $2.3 billion.
Boeing's rival Airbus (EAD.PA: Quote, Profile, Research)(EAD.DE: Quote, Profile, Research) expects Indian firms to place orders for 1,100 passenger and freighter aircraft valued at about $105 billion over 20 years.
Apart from passenger planes, Boeing is also among several global contenders to sell India as many as 126 advanced multi-role fighter jets in a deal that could be worth more than $8 billion.
((Editing by Mark Williams; Reuters Messaging: surojit.gupta.reuters.com@reuters.net, +91-11-4178-1016)) Keywords: BOEING INDIA/ Keywords: BOEING INDIA