07 Sep '11, 11am

China will need 5,000 new planes by 2030: Boeing

China will need 5,000 new planes by 2030: Boeing

US aviation giant Boeing said on Wednesday it estimated China would need 5,000 new planes worth US$600 billion (S$725 billion) by 2030, as growing wealth among the middle class triggers an air travel boom. -- PHOTO: REUTERS BEIJING (AFP) - United States aviation giant Boeing said on Wednesday it estimated China would need 5,000 new planes worth US$600 billion (S$725 billion) by 2030, as growing wealth among the middle class triggers an air travel boom. Mr Randy Tinseth, vice-president of marketing for Boeing's commercial airplane section, said the Seattle-based company had revised up its expectations from last year, when it predicted China would need 4,330 new planes by 2029. Mr Tinseth told reporters in Beijing the upgrade comes after the company enjoyed 'a better year' than expected in China and also reflects greater demand for air travel among Chinese. 'Sustained strong...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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