FINANCIAL NEWS

Boeing to tackle ME fast-growing aviation industry

03 May 2010

(MENAFN) Boeing said that carriers in the Middle East are expected to continue defying ailing global trends and are poised for a fast-paced growth in the coming year.

Boeing said in its Current Market Outlook (CMO) that it expects Middle East airlines to expand their cargo and passenger carrying capacities by investing significantly in 980 twin-aisle airplanes.

The firm expected a market for its 980 twin-aisle airplanes such as the 787, 777 and 747, roughly 57 percent of the total demand it foresees in the Middle East until 2028.

It said that the aviation industry in the Middle East is well prepared to deal with the rise in demand for air travel, with the airlines? existing fleets and backlog of orders.

Randy Tinseth, Vice President of Marketing, Boeing Commercial Airplanes said that the region?s air cargo market is currently the fastest growing of all regions and has cushioned the downturn with more resilience than others.

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