Asian airlines to grow faster

Asian airlines to grow faster

BANGKOK (AFP): Airlines in the Asia Pacific region will see the fastest growth rates in the world over the next two decades, raising demand for thousands of new planes, British aero-engine maker Rolls-Royce said Thursday.

Visiting Rolls-Royce chairman Ralph Robins forecast passenger traffic growth rates of about 7.7 percent a year -- higher than the world rate estimated at 5.0 percent.

"Load factors and traffic volumes in the region are now higher then before the economic crisis," he said, presenting a 20-year airline industry outlook.

"The return to the long-term growth trend means that the region will still become the largest region in terms of passenger traffic by 2016."

Rolls-Royce forecast the region would need more than 5,000 new planes -- ranging from 100-seaters to 400-seaters -- over the next 20 years and account for 41 percent of all widebody aircraft deliveries.

Total demand worldwide was forecast at 18,740 aircraft. Those aircraft will require 48,100 engines worth US$337 billion.