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February 4, 2010

Airplane makers say they're counting on Asia

By ALEX KENNEDY
Associated Press Writer

SINGAPORE — Aircraft makers such as EADS's Airbus and Boeing Co. are counting on Asia to pull the industry out of a slump and spur growth for years to come, executives said Wednesday.

Fueled by a growing middle class eager to travel, the region will need about 8,000 planes costing $1.2 trillion by 2028, France's Airbus estimates. Passenger traffic in Asia will likely grow an annual average of 5.9 percent during the next 20 years, overtaking the U.S. and Europe to become the largest air transport market, said Airbus, the world's biggest airplane maker.


 
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