NEW DELHI, Jul 30, 2007 (The Canadian Press via COMTEX) --
India will likely need 911 new passenger jets over the next 20 years to meet the growing demand for air travel, Boeing Co. said Monday, announcing an upward revision to its earlier forecast. India's demand for new planes over the next 20 years could result in orders worth $86 billion at current list prices, making it one of the world's largest markets for new jets, Boeing said in its latest market outlook for India. India's rapid economic expansion in recent years, coupled with policies to break the monopoly of state-run companies in the airline sector has driven demand for air travel and new planes. In 2003, India had a fleet of only 121 planes, which has since increased to 257 with 387 firm orders for new planes by Indian firms. In the past two years, Boeing has won orders for 144 jets worth $21 billion, said Dinesh Keskar, Senior Vice President of sales. The success of private airlines and the surge in air travel has encouraged companies like Boeing to repeatedly revise their forecasts, Keskar said.
