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Latin America to Triple Aircraft Purchases Over Next 20 Years

© AFP 2021 / VANDERLEI ALMEIDA737 Boeing of Brazilian airline Varig is seen on the tarmac of the Santos Dumont domestic airport in Rio de Janeiro (File)
737 Boeing of Brazilian airline Varig is seen on the tarmac of the Santos Dumont domestic airport in Rio de Janeiro (File) - Sputnik International
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Boeing Latin America President Donna Hrinak stated that Latin American economies will grow faster than the rest of the world and the growth will create increased passenger traffic in the region and drive Latin American airlines to expand.

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WASHINGTON (Sputnik) — Latin American airlines are projected to buy about 3,000 new aircraft worth $350 billion in the next two decades, tripling the region’s current fleet size, Boeing said in a news release on Tuesday.

“Over the long term, Latin American economies will grow faster than the rest of the world,” Boeing Latin America President Donna Hrinak stated. “This growth will create increased passenger traffic in the region and drive Latin American airlines to expand.”

To meet increased passenger traffic, Boeing forecasts the region will require more than 2,500 new single-aisle airplanes over the next 20 years, reflecting the continued growth of low-cost carriers and further expansion of networks in the region, the release said.

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In addition, demand for larger wide-body aircraft “is forecasted at 340 new airplanes as regional carriers continue to compete more strongly on long-haul routes,” Boeing n predicted.

Latin America has been in a steady replacement cycle since the mid-2000s and that trend will continue as nearly 60 percent of the current fleet is replaced over the next two decades, the release noted.

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