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FINANCIAL NEWS
Boeing: air traffic in ME to increase 7.1% through 2029
28 Sep 2010
(MENAFN) American plane maker Boeing Co, the world’s second-largest commercial airplane manufacturer, said that it expects a quadrupling of air traffic in the Middle East in the coming 20 years by 7.1 percent, as its young populations take to the skies, Reuters reported.
By the year 2029, the company is going to require 2,340 new airplanes in the region and said that the market is going to continue to be dominated by twin-aisle, long-range airplanes, which account for almost 43 percent of demand.
Boeing took several large orders during the Farnborough Air show in July, with Dubai’s Emirates airline ordering thirty 777s, a $9 billion deal.
The International Air Transport Association (IATA) said that Middle Eastern carriers are expected to realize a major boost in earnings from $100 million to $400 million.
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