Boeing Forecasts Strong China Demand Even as Pandemic Hurts Global Market
November 12 2020 - 12:58AM
Dow Jones News
By Yifan Wang
Boeing Co. on Thursday released strong forecasts for China's
aircraft demand, even as the aerospace company said it expects a
weaker global market amid the coronavirus pandemic.
The U.S.-based company said it expects Chinese airlines to
acquire 8,600 new airplanes worth $1.4 trillion over the next 20
years.
The demand strength will be supported by a robust economic
recovery from the pandemic, China's rapidly growing middle class
and deepening urbanization, it said.
In October, Boeing cut its estimate for global airplane demand
due to the public health crisis.
"While Covid-19 has severely impacted every passenger market
worldwide, China's fundamental growth drivers remain resilient and
robust," said Richard Wynne, managing director, China Marketing,
Boeing Commercial Airplanes.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
November 12, 2020 00:43 ET (05:43 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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