Boeing proj $ 72 bn market for 856 aircraft in India

New Delhi, Aug 28: The Seattle-based plane maker Boeing today detailed its India current market outlook, projecting a need for 856 new commercial jets worth over 72 billion dollars (about Rs 338,400 crore) over the next 20 years.

The strong forecast is supported by a robust economic growth, an increasing demand for point-to-point domestic and international air travel, and the growth of India-based cargo market.

''Economic growth, liberalisation and airlines' operational efficiencies are three fundamental drivers behind the increase in air travel in India,'' said Dr Dinesh Keskar, senior vice-president for Boeing Commercial Airplanes' sales division in south and southeast Asia.

Of the 856 aircraft required, about 676 planes worth 25.41 billion dollars (about Rs 119,427 crore) will be in single aisle category (like the B 737-800s). The rest in twin-aisle, regional jets or B 747 and larger category.

Dr Keskar said India's progression from a regulated to liberalised market has dramatically increased the competition among airlines and is forcing them to operate at much higher levels of efficiency to remain profitable.

UNI