Do More With Reuters
Partner Services

AIRSHOW - Boeing sees passenger jet demand pick up in 2012

Sun Nov 15, 2009 5:06pm IST
 
Email | Print | | Single Page
[-] Text [+]

By Tim Hepher and Martina Fuchs

DUBAI (Reuters) - Boeing sees signs of recovery in the freighter market but plane makers face two more lean years before passenger jet demand picks up in 2012, a top executive said on Sunday.

"Our view is that we are already starting to see some improvement in terms of the freighter market," Boeing Commercial Airplanes Chief Executive Jim Albaugh told Reuters Television in an interview at the Dubai airshow.

"Our sense is that 2012 will start the uptick again (in passenger jet demand) and we should start seeing more orders coming back in 2013 and 2014."

Albaugh said a rebound in passenger jet demand would be softened to some extent by the return of airplanes that have been parked in the desert during the recent downturn.

"There will be new airplanes as well as airplanes that are coming back into the industry," he said.

He did not expect any problems in reaching Boeing's target of delivering 480 to 485 aircraft in 2009 despite airline cash problems, citing the strength of Boeing's order book.

"We are going to deliver around 480 airplanes this year and I think we will be flat next year," he said.

He did not expect Boeing, the No. 2 plane maker behind EADS unit Airbus, would need to cut production of single-aisle aircraft to balance demand as some analysts have predicted.   Continued...

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
Economy seen growing at 7.2 pct in FY10 - govt

The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget.  Full Article 

A Greek flag at the Bank of Greece is seen near a statue of ancient philosopher Socrates in Athens February 5, 2010.  REUTERS/Yiorgos Karahalis/Files
Greek crisis sets euro zone enlargement back

The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area.  Full Article 

Photo

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives
Greece's Finance Minister Papaconstantinou addresses reporters during a news conference in Athens, January 20, 2010.
Eurozone agreed in principle to aid Greece

Euro zone countries have decided in principle to help debt-stricken Greece, a senior German ruling coalition source said.  Full Article 

FROM THE MARKETS

After the Bell
After the Bell

Reuters Money's Kshitij Anand updates you on the movers and shakers of the Indian stock market.  Blog 

SHOWCASE

"Claw Back" Pay
"Claw Back" Pay

Banks and regulators hope that threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street.  Full Article 

 
James Saft
Blaming Asperger's

COLUMN - Did Asperger's help cause the financial crisis?  Full Article 

 
Going Global
Going Global

With Volvo, Chinese eye M&A abroad to win at home.  Full Article 

 
Delivery Woes
Delivery Woes

Boeing 787 delivery schedule could slip - experts.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage