Business Daily from THE HINDU group of publications
Sunday, Apr 19, 2009
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Business Daily from THE HINDU group of publications Sunday, Apr 19, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Outlook Logistics - Airlines Slowdown may impact new orders: Boeing, Airbus Our Bureau Hyderabad, April 18 Boeing and Airbus, the two aircraft manufacturers, have said that the slowdown would have an impact on new orders in India. The slowdown would not have an impact on the existing orders and backlogs. But it certainly would have an impact on the new orders, Mr Ajay Mehra, Managing Director of Airbus (South Asia), and Mr Larry Coughlin, Managing Director of Boeing (India), told Business Line. The Boeing and Airbus executives were here on Saturday to take part in the inaugural of an international conference on the challenges and opportunities the aviation industry faced in the subcontinent, organised by Srinidhi Institute of Technology. Mr Larry Coughlin said the near-term outlook for the industry globally was bleak, with IATA projecting a fall of 5.7 per cent in passenger traffic, 13 per cent in cargo and 12 per cent reduction of revenues this year. Stating that the global industry was in “intensive care”, he said the world needed 29,400 new aircraft in the next 20 years. Quoting Boeing’s Current Market Oulook for 2008, he said while 12,500 aircraft would be needed for replacement, the remaining aircraft would be inducted to support the growth. “Of this, India would require 1,001 aircraft – 880 to support the demand and 121 for replacements, the remaining being retained fleet. “High fuel costs have slowed the growth of the industry in India. Too much system capacity with consequential yield dilution and financing for aircraft additions are the near-term challenges,” he pointed out. Mr Ajay Mehra felt that institutes such as University Grant Commission and All India Council for Technical Education need to focus on supporting courses to suit the new crop of aircraft. More Stories on : Outlook | Airlines | Economy
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