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    AIR   NL0000235190

AIRBUS SE

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Europe's low-cost carriers to drive jet demand over next 20 years -Boeing

09/21/2021 | 02:08am EDT
FILE PHOTO: A Boeing 737 MAX airplane lands after a test flight at Boeing Field in Seattle

LONDON (Reuters) - Planemaker Boeing said that European low-cost carriers would help drive demand for new aircraft in the region over the next 20 years, as airlines replace their ageing fleets with more fuel-efficient jets.

Boeing said on Tuesday that it expects airlines in Europe to order 7,100 new single-aisle planes, usually used for short haul trips, between now and 2040, with low-cost specialists like Ryanair behind that demand.

In fact, Europe's demand for planes will be even more strongly driven by low-cost carriers than elsewhere in the world, said Boeing vice president, commercial marketing Darren Hulst.

"Globally our forecast in general is about 40% of single aisle demand is low-cost carrier, and I would say you could argue in this European space that number would be slightly higher," he told a press briefing.

In the widebody or long-haul sector, Boeing is expecting demand for 1,545 new jets in Europe over the 20-year period.

Of the 7,100 new single aisle jets, where Boeing's 737 jets compete against Airbus's A320 and A321s, Hulst is expecting demand for close to 3,000 to come in the next ten years.

Many traditional carriers like British Airways-owner IAG and Air France-KLM also operate their own low-cost brands, such as Vueling and Transavia respectively.

Ryanair, one of Boeing's biggest customers in Europe, earlier in September abruptly ended talks with the U.S. planemaker over a new order of the larger 737 MAX 10 jets, worth tens of billions of dollars, due to differences over price.

But Boeing's Hulst said that Ryanair could always come back if it wanted more.

"I think we would continue to make sure that the 737 MAX 10 and you know other derivatives of the 737 can help Ryanair change the game even more," he said.

(Reporting by Sarah Young; Editing by Aurora Ellis)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM 4.64% 4.213 Real-time Quote.-17.71%
AIRBUS SE 1.36% 114.9 Real-time Quote.27.98%
RYANAIR HOLDINGS PLC 2.10% 17.3 Real-time Quote.6.43%
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Sales 2021 52 736 M 61 174 M 61 174 M
Net income 2021 2 773 M 3 217 M 3 217 M
Net cash 2021 5 776 M 6 700 M 6 700 M
P/E ratio 2021 29,3x
Yield 2021 0,73%
Capitalization 90 286 M 105 B 105 B
EV / Sales 2021 1,60x
EV / Sales 2022 1,38x
Nbr of Employees 126 050
Free-Float 74,1%
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Last Close Price 114,90 €
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Guillaume Faury Chief Executive Officer
Dominik Asam Chief Financial Officer
RenÚ Richard Obermann Chairman
Sabine Klauke Chief Technical Officer
Alberto Jose Gutierrez Moreno Chief Operating Officer
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