Air carriers in Africa to need $80 billion in jets during the next 20 years

Published 10:08 am Tuesday, September 21, 2010

Air carriers in Africa will need another 700 airplanes valued at $80 billion during the next 20 years, the Boeing Co. predicts.

Company officials predicted steady growth as the need for travel grows with the economy, which they said should grow by 4.8 percent this year. Worldwide growth should increase demand for Africa exports, particularly for oil development in West Africa, the company said.

“As the demand for African commodities grows and foreign development and tourism increase, African carriers will require a modernized fleet in order to compete on routes historically dominated by foreign carriers,” Mike Warner, senior market analyst for Boeing Commercial Airplanes, said in a statement.

“Africa’s current fleet is nearly 20 years old on average in a market that demands newer, more fuel-efficient airplanes to help offset the rising cost of fuel.”

Strong demand exists to support increased non-stop routes between Africa and Europe, the United States, the Middle East, India, and China, Warner said.

He said there should be interest in the company’s 737 and the new 787 jet because of better fuel efficiencies and less maintenance cost.