Tuesday, September 30, 2014
Europe's Airbus Group predicted airlines will buy planes worth $4.6 trillion over the next 20 years, with Chinese domestic travel surpassing the U.S. as the largest single aviation market within a decade. Airlines will need 31,400 new jetliners and freighters during the period, 2,180 or 7 percent more than suggested in Airbus's previous 20-year forecast a year ago, with passenger growth remaining at 4.7 percent annually, the company estimates. (Sources: multiple, including Airbus, Bloomberg, 09/25/14) Previous related. Gulf Coast note: Airbus is building an A320 final assembly line in Mobile, Ala., which is expected to play a large role in satisfying the higher demand.