Boeing raises China plane demand forecast 8 percent as overseas travel grows

Boeing Co said on Thursday it expects China to need more than 6,020 aircraft in the next 20 years, an 8 percent rise over last year's two-decade estimate, as growing overseas leisure travel drives demand for single-aisle and wide body planes. The aircraft maker's new estimate of 6,020 planes, valued at $870 billion (528.91 billion pounds), is up from the 5,580 it estimated last year and represents a near tripling of China's current fleet. The country, the world's second-biggest aircraft market, is essential to Boeing's long-term global strategy. "New business models like low-cost carrier, regional carriers are driving demand for more direct flights to more destinations," said Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes, speaking at a media briefing in Beijing.

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