China will order €925bn in new planes, says Boeing

Chinese airlines are likely to buy more than 7,000 planes worth almost €925 billion over the next 20 years, as they grow their fleets to meet robust demand for domestic and international travel, Boeing said in a new bullish forecast.

Its latest estimate of 7,240 aircraft purchases for the period to 2036 is 6.3% higher than the US planemaker’s previous prediction of 6,810 planes last year.

“China’s continuous economic growth, significant investment in infrastructure, growing middle-class and evolving airline business models support this long-term outlook,” Randy Tinseth, Boeing Commercial Airplanes vice president of marketing, said.

“China’s fleet size is expected to grow at a pace well above the world average, and almost 20% of global new airplane demand will be from airlines based in China,” Mr Tinseth said. He said there was more optimism on the long-term economic outlook in China this year.

Boeing and European rival Airbus have been jostling for market share in China with both opening assembly plants in the country

The US firm said it expects three-quarters of the 7,240 plane orders to be for single-aisle aircraft, thanks to strong demand for travel within China and throughout Asia. The widebody fleet would require 1,670 new planes, it added.

Meanwhile, United Airlines has ordered 10 extra Airbus A350 passengers jets while downgrading its overall order from the largest model, the A350-1000, to the smaller A350-900, Airbus said.

Reuters