India is adding airline passengers faster than any other country, and it needs more planes to carry them: 1,080 more, to be precise.
To meet exploding demand, the South Asian nation is set to to buy 2.2 new airplanes for each of the 480 aircraft currently in service, according to a new report by the Centre for Asia Pacific Aviation (CAPA).
The U.S. and China are the only countries to have more pending aircraft orders, the report says.
Boeing, one of the biggest potential beneficiaries of the massive spending spree, is equally optimistic. The manufacturer predicts India will need 1,850 new planes over the next two decades. It values the orders at $265 billion.
The U.S. firm will reportedly agree in the coming weeks to sell 100 planes to Indian carrier Jet Airways. It is also a top contender to sell another 100 to the country’s newest …
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