Boeing forecast for Indian freighter market remains static

28 July 2008

US aerospace giant, Boeing Company, has said in its 2008 Current Market Outlook (CMO) for India, that the country will need only 24 dedicated freighters for the period 2008-2027. The forecast for cargo planes remains the same as last year (2007-2026).

The forecast remains where it is even as the manufacturer has revised the projections for passenger planes to 977 (2008-2027) over last year's (2007-2026) projection of 887.

Boeing's 20-year forecast takes into account the industry's near-term challenges, including slowdown in world economy, surging fuel prices, slowing traffic growth and concerted action by airlines to balance costs and revenues.

In spite of a continuing downturn faced by the industry, some Indian companies are persisting with their plans for freighter operations. Pioneer LCC operator, Capt GR Gopinath, is going ahead with his plans to start a separate cargo airline company, Deccan Cargo.

He will be picking up cargo versions from European manufacturer, Airbus. So also, Hyderabad-based Flyington Freighters, who are acquiring half a dozen A330-200 freighters to start international cargo operations.

Flag carrier Air India is moving ahead on plans to acquire more freighters. The carrier is also converting older passenger planes into cargo versions. It will also be acquiring larger freighters.  The carrier has a separate cargo division and has leased some of its cargo planes to Gati.