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Boeing revises India aircraft forecast to 1,850 new Jets over 20 Years

Boeing Co expects Indian airlines to order 1,850 new aircrafts worth $265 billion over the next 20 years

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Visitors look at models of Boeing aircrafts at the Aviation Expo China 2015, in Beijing, China, in this September 16, 2015 Image source: REUTERS/Jason Lee/Files
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  • In March 2016, the company had forecasted that demand from India would add up to orders for 1,740 planes over 20 years
  • Boeing mentioned it has more than 85 percent share of the wide-body airplane market in India
  • LCCs dominate Indian skies and account for more than 60 percent of the flights in the country

India’s commercial aerospace market has made significant headway as they see an upward curve in the demand of new aircrafts.

Boeing Co (BA.N) said on Tuesday, July 19, it expects Indian airlines to order 1,850 new aircraft worth $265 billion over the next 20 years, up from an earlier forecast, thanks to the new aviation rules that the manufacturer said will boost demand.

In March 2016, the company had forecasted that demand from India would add up to orders for 1,740 planes over 20 years.

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“India continues to have a strong commercial aerospace market and the highest domestic traffic growth in the world,” said Dinesh Keskar, senior vice president, Asia Pacific and India sales at Boeing Commercial Airplanes.

Dinesh Keskar, Senior Vice President, Asia Pacific and India sales Boeing Commercial Airplane. Image source: www.thehindubusinessline.com
Dinesh Keskar, Senior Vice President, Asia Pacific and India sales Boeing Commercial Airplane. Image source: www.thehindubusinessline.com

“With the new aviation policies in place, we even see greater opportunities, and remain confident in the market and airlines sector in India,” Keskar said.

Last month, in June in India overhauled rules governing its aviation industry, liberalising norms for domestic carriers to fly overseas and spreading the country’s air travel boom to smaller cities by capping airfares and opening new airports.

Boeing said in an email that it forecasts single-aisle planes, such as the next generation 737 and 737 Max, to make up the bulk of new deliveries, with India likely to need about 1,560 such aircraft.

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Boeing says it has more than 85 percent share of the wide-body airplane market in India, while competitor Airbus (AIR.PA) sells the bulk of small planes preferred by low-cost carriers (LCCs) such as InterGlobe Aviation’s (INGL.NS) IndiGo.

LCCs dominate Indian skies and account for more than 60 percent of the flights in the country.

Boeing expects worldwide demand for 39,620 aircraft over the next 20 years, putting India’s share of the total at less than 5 percent. With that being said, Boeing still maintains a  bullish outlook for the country’s commercial aerospace market. (Reuters)

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President Ram Nath Kovind Pays His Condolences to Former UN Chief Kofi Annan

Annan was awarded the Nobel Peace Prize jointly with the UN in 2001 "for their work for a better organised and more peaceful world".

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India condoles former UN chief Kofi Annan's death.
India condoles former UN chief Kofi Annan's death. Flickr

India on Saturday condoled the death of former UN Secretary General and Nobel laureate Kofi Annan with President Ram Nath Kovind expressing his condolences to the former Ghanaian diplomat’s family and the UN community as a whole.

“Sorry to learn of the passing of former Secretary General of the United Nations Kofi Annan,” Kovind said on the Rashtrapati Bhavan Twitter handle.

“My condolences to his family and to the UN community,” he stated.

Annan, 80, died on Saturday in Switzerland after a short illness, with his wife and three children by his side.

“It is with immense sadness that the Annan family and the Kofi Annan Foundation announce that the former Secretary General of the UN and Nobel Peace Laureate, passed away peacefully on Saturday 18th August after a short illness,” his family said.

Kofi Annan
Annan was the first black African to take up the role of the world’s top diplomat, serving two terms from 1997 to 2006. Flickr

Annan was the first black African to take up the role of the world’s top diplomat, serving two terms from 1997 to 2006. He later served as the UN special envoy for Syria, leading efforts to find a peaceful solution to the conflict.

He also led a UN commission to investigate the Rohingya refugee crisis in Myanmar.

The Myanmar government led by Aung San Suu Kyi supported Annan’s recommendations on the crisis in the country’s Rakhine State.

Also Read: New AI Model to Identify the Risk of Heart Disease in Indians

Annan was awarded the Nobel Peace Prize jointly with the UN in 2001 “for their work for a better organised and more peaceful world”.

His tenure as the UN chief coincided with the Iraq war and the HIV/Aids pandemic. (IANS)