Latin American Airline Fleet To Double

Boeing and Airbus forecast Latin America's commercial fleet to at least double in the next two decades as economic growth accelerates in the region.

In a statement at the FIDAE regional airshow in Chile, Airbus projected Latin American airlines will need 2,540 new planes by 2034, worth USD$330 billion dollars. It predicted a doubling of the number of airliners in operation.

Air traffic during that time will grow 4.7 percent annually in the region, the company predicted, slightly higher than its forecast for 4.6 percent growth worldwide.

Boeing forecast that Latin American airlines will need 3,050 new planes worth USD$350 billion over the next two decades. Sixty percent of Latin America's existing commercial fleet will be replaced in the next 20 years, with the overall fleet size tripling during that time, the company said.

"In the long term, the economies of Latin America will grow faster than those in the rest of the world," said Donna Hrinak, president of Boeing Latin America.

"This growth will create more passenger traffic in the region and push Latin American airlines to expand and compete for business that has traditionally been dominated by foreign operators."

Both companies also stressed that they saw long-distance routes in the region as a particularly ripe area for growth.

"The expansion of long-distance routes in Latin America is imminent, and we're already seeing some airline companies react, opting for larger planes," said Rafael Alonso, president of Airbus for Latin America and the Caribbean.