Boeing Talks of Recovery in 2011

Many executives over at the aviation giant Boeing have now revealed that international air travel is starting to stabilize. However, despite the fact that the airline industry is now starting to stabilize, Boeing still does not think that there will be much recovery until around 2011, as companies and passengers continue to scale back on traveling. Just because numbers are finally starting to stop declining does not mean that everyone is going to jump back on a plane now.

Right now passenger travel will get somewhat stronger in the second half of 2009 than what it looked like in the first half. However, these numbers will still slump about 6 to 8 percent from what they were a year earlier, according to Boeing’s vice president, Randy Tinseth. He noted that there are sings that the drop in demand is finally slowing with many airlines starting to be able to restore their capacity. Chinese and Latin American markets are starting to pick back up already.

Tinseth went on to say that they are already starting to see some improvements in traffic and in traffic growth. Of course, just like what many others are saying, there is still a very long ways to go. They do view 2010 as a year of economic recovery and 2011 as a year of air travel recovery.

The comments spoken by Boeing were a boost for the Asia Pacific region. It is said that Asia, over the long term, will be able to overtake North American as the world’s largest air travel market. This will be done by growing from a 32 percent share of the market to 41 percent. Right now Asia Pacific is the largest market, in the forecast, for new airplanes in terms of market value and units required.