Commercial fleet could triple in Latin America by 2035: Boeing
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Boeing estimates that the Latin American airlines may need 3,050 new aircrafts within the next two decades, valued in US$350 billion, which will triple the current fleet size in the region. Donna Hrinak, President of Boeing Latin America, said: "Latin American economies will grow faster than the rest of the world in the long term. Such growth will generate the larger passenger traffic in the region and will encourage the Latin America airlines to expand and compete for the business that has been controlled by foreign operators". In order to face this passenger traffic increase, Boeing estimates that the area will require more than 2,500 new single-aisle airplanes. Likewise, it is expected that the demand of wide-body aircrafts reaches to 340 units. The average age of Boeing airplanes in Latin America keeps decreasing, from 15 to less than 10 years since 2005, so Latin America and the Caribbean have the youngest fleet, compared to the average worldwide. The region has been into a constant replacement cycle since mid-2000 and this trend will continue, since almost 60% of the current fleet will be replaced within the next 20 years.