Boeing’s vice president of marketing Randy Tinseth told media in Sydney on October 26 that the economic downturn has “reached bottom and recovery has begun”, although recovery will be a “long, slow process”.
Tinseth made the comments at a media conference where he presented Boeing’s Current Market Outlook, with a special focus on the Oceania region. He noted that Australia’s economy had fared better than others, which would have a positive effect on travel in the region.
“Economic conditions obviously affect air travel in the region,” Tinseth said. “Oceania air travel growth is expected to be above five per cent, compared to a world average growth of 4.9 per cent.”
Boeing expects that 670 new commercial aircraft will be delivered to operators in the region up to 2028, with 67 per cent of commercial airliners to accommodate growth and the remaining 33 per cent for fleet replacement. Of those, 63 per cent are expected to be narrowbodies, 30 per cent twin aisle, six per cent large aircraft and one per cent regional jets.
An exclusive interview with Randy Tinseth will appear in the December issue of Australian Aviation.