Commercial plane market coming back 'strongly': Boeing
The commercial aircraft market is coming back strongly and US aerospace giant Boeing will have to raise its game to keep ahead of the competition, the company said on Monday.
"Traffic is coming back in very strong fashion," Jim Albaugh, head of Boeing's commercial aircraft division told a briefing at the world's largest airshow in Le Bourget, just north of Paris.
Albaug said Boeing had an order backlog worth $263 billion (185 billion euros), equivalent to seven years of output, and that amount of planes was "way too many."
This backlog would have to be brought down so "that you don't lose customers," he said, adding that Boeing was doing everything it could to keep up and be the market leader on all fronts.
Referring to Boeing's main rival Airbus, Albaugh said the days of their "duopoly" were over, with competition emerging from China, Brazil and Russia, as well as other countries moving up the technology ladder.
Last week, Boeing said 33,500 planes worth $4.0 trillion (2.8 trillion euros) would be needed over the next 20 years, with single-aisle jets such as its B737 or Airbus' A320 accounting for 70 percent by number and 48 percent by value.
© 2011 AFP