Middle East ?requires more than 1,400 new planes? over next 20 years.

Date: 18/11/2009

Aircraft manufacturers estimate that the Middle East airlines will need more than 1,400 new aircraft over the next 20 years to keep up with aeroplane travel demand in the region.

The improvement in outlook for the region was shared by both Boeing and Airbus forecasters, signalling the region will continue to generate steady business in the years ahead, despite the worldwide downturn in passenger travel.

Airbus CEO John Leahy said: “The Middle East market encompasses all aircraft segments and is a barometer for the rest of the world.”

“The recovery begins here.”

Meanwhile Boeing projected the Middle East airlines would need 1,710 new aeroplanes over the next 20 years, which the company values at $300 billion (£178 billion).

Boeing vice president of marketing Randy Tinseth similarly said in a Zawya report that the Middle East and Asia will drive the industry recovery and meet growth requirements in the region .