Boeing

Boeing has forecasted that Latin American airlines will require 3,050 new aircraft valued at $350bn by 2035, which is triple the region’s existing fleet size.

Boeing currently has 260 aircraft on order from Latin American customers.

According to the forecast, the entire Latin American region will require more than 2,500 new single-aisle and 340 new wide-body airplanes in the next 20 years.

The increase in demand for single-aisle aircraft has been attributed to the growing number of passenger traffic, as well as the constant growth of low-cost carriers and expansion of networks in the region.

Demand for wide-body aircraft is forecasted to grow because of the regional carriers’ continued competition on long-haul routes.

More than two-thirds of twin-aisle departures from Latin America are currently on Boeing products, the company claimed.

Boeing Latin America president Donna Hrinak said: "Over the long term, Latin American economies will grow faster than the rest of the world.

"Over the long term, Latin American economies will grow faster than the rest of the world."

"This growth will create increased passenger traffic in the region and drive Latin American airlines to expand and compete for business that has traditionally been dominated by foreign operators."

Compared to the rest of the world, Latin American and the Caribbean regions currently have a younger fleet with an average fleet age of less than ten years.

In 2005, the region’s average fleet age was more than 15 years.

Since mid-2000s, the region has been in a steady replacement cycle and that trend is expected to continue as around 60% of the existing fleet will be replaced over the next two decades.

Boeing also noted that the inclusion of its 787 Dreamliner to the LATAM Airlines Group; Avianca, the national airline and flag carrier of Colombia; and Mexico’s Aeromexico fleets has helped the carriers to open new routes and have access to new markets.

Aeromexico currently operates a nonstop 787 Dreamliner flight from Mexico City to Tokyo, Japan, a route that earlier required a refuelling stop.


Image: Inclusion of Boeing 787 Dreamliner to the Latin American airlines has helped the carriers to open new routes. Photo: courtesy of Boeing.