Boeing Cuts 20-Year Industrywide Outlook for Planes

StreetInsider2022-07-17

U.S. airplane maker Boeing Co trimmed its projected industrywide demand for airplanes over the next 20 years, but said it expects deliveries to be stable excluding the Russian market.Boeing projects ...

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Gee1
2022-07-18
Gee1
good
CS2
2022-07-18
CS2
Ok
weekendnote
2022-07-18
weekendnote
OK
ASMH
2022-07-18
ASMH
Like
Sunny0809
2022-07-18
Sunny0809
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WJ77
2022-07-17
WJ77
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Its forecast for widebody deliveries over 20 years fell from 7,670 to 7,230.Boeing still projects the global airline fleet by 2041 will nearly double as it still sees a worldwide aviation demand COVID-19 recovery by early 2024.Over the next 20 years Boeing said \"long-term fundamentals remain intact.\"\"Our view of medium-term recovery -- when the industry gets back to 2019 levels of global airline traffic -- is largely unchanged\" since 2020, Hulst said. \"Overall, we still see late 2023, early 2024 as the time where the industry recovers to full or at least the level of pre-pandemic traffic.\"Boeing sees strong near-term demand for aircraft despite recession risks.\"The global industry is still on a recovery trajectory back to where the normal relationship of GDP and traffic would be,\" Hulst said. \"Any small blip from an economy standpoint would be probably overwhelmed by the demand that exists as a result of those normal economic relationships.\"Boeing also projects the freighter fleet will grow 80% by 2041. Air cargo is performing at \"historic levels,\" Hulst said, saying it is in part \"a function of the increasing strategic value of air cargo relative to supply chains that are challenged and shipping that is challenged.\"Boeing sees e-commerce networks as helping to drive a \"strategic shift to air cargo even into the medium- and long-term. ... This isn't just a blip in terms of shipping versus air.\"Hulst said the number of routes with more than one airline operating has more than doubled over the last two decades -- representing 70% of all capacity. 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