Planemakers relieved with the growth of air travel

Published on : Wednesday, July 13, 2016

Planemaker AirbusBoeing and Airbus declared on Monday that the rising wealth resources in the region of Asia would raise air travel thereby protecting the global economy against short-term hits.

 

At the Farnborough Airshow, these planemakers also shared the news of jet deals worth multi-billion dollars. The event started on Monday about 72 kms from the south-western part of London.

 

Strong sales have characterized Boeing and Airbus that has boosted air travel and its demand for new planes.

 

However, some analysts have said that Brexit and slowing economic growth in China would dry up the orders for larger jets but despite that, the Planemakers have been positive. Boeing has responded that it would require 39, 620 aircrafts within the next 20 years.

 

Randy Tinseth, vice president, marketing, Boeing Commercial Airplanes have asserted that though the financial markets have been hit, the aviation industry would witness growth since the commercial fleet would double.

 

Boeing said that air traffic would expand by 4.8 percent in the following 20 years.

 

Airbus, on the other hand, felt that the air traffic would increase by 4.5 percent every year and by 2035, the middle classes in the emerging economies would reach up to 3.5 billion people, with the demand being quite high in India and China.

 

David Cameron, British Prime Minister inaugurated the Farnborough event by finalizing multi-billion dollar deals with Boeing. The plan was to upgrade as many as 50 Apache helicopters and buy nine maritime patrol planes. 12 planes of Airbus was ordered by Virgin Atlantic at the Farnborough event in a deal that was worth US$4.4 billion.

 

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