Airbus Revises UP Jet Demand, Trims Traffic Growth
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September 18, 2019 - by Tim Hepher for reuters.com
Airbus on Wednesday revised up forecasts for jetliner demand in the next 20 years led by growth in the new industrial hubs of Asia, while voicing alarm over rising protectionism.
The European planemaker, revising an annual 20-year forecast that sheds light on economic trends across the globe, predicted the world's fleet would more than double to 47,680 jets by 2038.
That is slightly smaller than the future fleet Airbus had anticipated in a comparable forecast one year ago, as airlines squeeze extra productivity out of their aircraft by adding more and slimmer seats or using them for longer periods of the day.
But the demand for new jets needed to reach that total has been revised upwards because Airbus believes airlines will replace a greater proportion of aircraft than previously anticipated, mainly to take advantage of extra fuel savings.
Airbus said it now expects airlines and leasing companies to take delivery of 39,210 new passenger jets and freighters over the next two decades compared to 37,389 previously forecast.
Airbus expects 36% of these new deliveries to replace existing aircraft with the rest slated to meet growth in demand, with traffic expected roughly to double over the next 15 years.
A year ago, Airbus had predicted that just 29%...