Middle East airlines set to buy 1,710 commercial jets over two decades

19/02/2010 - Dubai Investment News
Middle East airlines set to buy 1,710 commercial jets over two decades
Posted by Bob Brunskill

Middle Eastern airlines will buy 1,710 commercial jets worth US$300 billion over the next two decades, Boeing has predicted.

The American aerospace giant said that the prospects for growth in the region remained strong, with good investment opportunities in aircraft financing, Gulf News reported.

John Matthews, managing director for the Middle East and Africa at Boeing Capital, the company's customer financing unit, told the news provider: "The Middle East was the only part of the world to see air passenger growth during the current downturn."

He added that the strong health of the Middle East travel industry, combined with "reduced competition in the financing marketplace", offered good opportunities for willing and able investors.

The comments came as Mr Matthews, together with Mike de Graffenried, chief executive of Qatar First Investment Bank, co-hosted the company's first financier and investors Qatar roundtable.

Dubai International Airport maintained its status as one of the world's fastest growing airports by recording double digit growth in consecutive months at the end of last year.

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