TIL Desk/Business/New Delhi/ Indian airlines are projected to need 2,300 planes worth $320 billion in the next 20 years amid unprecedented domestic passenger growth, aircraft maker Boeing said Wednesday as it raised the forecast for the country. As much as 85 per cent of the planes would be narrow-body and the rest would be wide-body.
The forecast is for the 2018-2037 period. According to Boeing, India would need 1,940 single-aisle planes worth $220 billion and 350 wide-body aircraft valued at $100 billion. At current exchange rate, $320 billion is over Rs 22 lakh crore. Around 10 regional jets worth less than $1 billion would be needed during the 2018-2037 period.
“India continues to grow at a faster pace,” Dinesh Keskar, senior vice president (Asia Pacific & India Sales) at Boeing Commercial Airplanes said. Keskar also noted that aviation market in India is “quite challenging” as most airlines are not making money even as there is strong passenger growth. He noted that exchange rate, fuel prices and fare yields are the challenges.
