August 12, 2015 / 7:23 AM / 2 years ago

Boeing raises forecast for Indian plane demand

The Boeing logo is seen at their headquarters in Chicago, April 24, 2013.Jim Young/Files

NEW DELHI (Reuters) - Boeing co (BA.N) estimates Indian carriers will need 1,740 new airplanes, valued at $240 billion, through 2034, a senior executive at the U.S. planemaker said on Wednesday.

Dinesh Keskar, senior vice president, Asia Pacific and India sales for Boeing Commercial Airplanes, said in a presentation that 84 percent of the new planes required would be single-aisle, while 15 percent would be wide-body aircraft.

The new forecast is above that made by Boeing last year, when it estimated Indian demand at 1,600 new airplanes worth $205 billion over 20 years.

India's aviation market is growing fast as more people start to fly and new carriers enter the market. Most players in the industry, however, are losing money, given high fuel prices and limited scope to raise fares.

Reporting by Sankalp Phartiyal; Writing by Devidutta Tripathy; Editing by Clara Ferreira Marques

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