Boeing, Airbus may get Chinese plane orders ( 2003-09-16 11:18) (Bloomberg News)
Boeing Co and Airbus SAS, the world's largest aircraft manufacturers, may try
to revive Chinese plane orders at a Beijing aviation forum this week as travel
demand in Asia's fastest-growing economy recovers after the containment of SARS,
analysts said.
Planemakers want to tap potential in China as airlines elsewhere reduce
orders, following the 2001 terrorists attacks on the United States and the war
in Iraq. That led Chicago-based Boeing to cut its 2004 sales and earnings
forecast in July. Airbus and Boeing previously said Chinese airlines may buy
between 1,600 and 1,900 passenger planes worth about US$144 billion by 2020.
"China is still going to be looking very strongly at purchasing aircraft,"
said Hugh Ritchie, managing director of Brisbane-based Aviation Consultants
International. "It's a huge untapped market and they are also going to need
aircraft to meet the demand for shipment of cargo."
Chinese Vice Premier Huang Ju and the Minister for General Administration of
Civil Aviation of China Yang Yuanyuan will also attend the show, where they will
mingle with David Wang, Boeing's China president, and Airbus Chinese head Guy
Mcleod.
Mcleod will be touting the 555-seat A380 jet, which will be the largest
commercial aircraft built.
Airbus previously said it's expecting Chinese carriers to buy the plane to
operate for the Olympics in China in 2008.
McLeod will speak about the A380 at a seminar today and a model of the plane
will also be on display during the show. Airbus will also show models of its
A330 and A319 planes.
Boeing will present its market outlook forecasts for China at the show and
will also talk about its newest model, the 7E7, spokesman Ross Ma said.
Wang, Boeing's China president, said this month demand for new planes in
China is rising, while Airbus also last month said Asian aircraft demand is on
the increase.
Toulouse-based Airbus in April signed a contract with China to sell 30
jetliners in a deal worth US$1.89 billion.
The number of international passenger numbers to and from China will probably
rise by an annual rate of 9.6 percent between 2002 and 2006, the International
Air Transport Association said last year.
