Tagged: China’s shadow

Global air industry sees recovery but not this year

Reuters | Singapore | Wed Feb 3, 2010 | 2:55pm IST

The global economy may be climbing out of recession but the air transport industry does not expect any significant pick up in orders this year, executives said on Wednesday. “Cautious optimism” is the dominant phrase at the Singapore Airshow this week, the first major industry event of the year after a wretched 2009, when aircraft orders at both Boeing and Airbus were the worst in 15 years. Amid a dearth of orders at the air show, both manufacturers said demand was likely to remain more or less flat in 2010. But there were some spots of good news elsewhere. Brazil’s Embraer said it hoped to better the 2009 sales of 30 jets, but would fall short of the 100 sold in 2008. Bell Helicopter, a unit of Textron Inc, said it saw revenue climbing around 16 percent this year, backed by strong demand by the U.S. military for its craft.

“Generally we see 2010 as the year of economic recovery and 2011 a year where airlines recover to profitability and as a result of that (we see) an increase in demand for airplanes in 2012,” said Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes. Boeing had gross orders from airlines for 263 planes in 2009, but net orders of 142 planes after cancellations. Airbus had gross orders of 310      Continue reading