Business | Aviation
India to get 100 new Boeing jets
US aircraft maker Boeing Co will deliver 100 planes worth $17 billion over the next four to five years to Indian airlines, and will have to compensate some for the late delivery of 787 Dreamliners, the president of its Indian operations said.
- Reuters
- Published: 23:01 April 3, 2009
Bangalore: US aircraft maker Boeing Co will deliver 100 planes worth $17 billion over the next four to five years to Indian airlines, and will have to compensate some for the late delivery of 787 Dreamliners, the president of its Indian operations said.
"We clearly want to extend our footprint in India," Dinesh Keskar, president of Boeing India, told reporters at the launch of Boeing's research and technology centre in the southern city of Bangalore.
The outstanding orders were part of the $25 billion aircraft delivery contracts Boeing had signed with Indian airlines in the past three years, he said.
"We have a steady stream for deliveries coming to India," said Keskar, also noting Boeing would pay compensation to national carrier Air India and Jet Airways for the delay in delivery of 787 Dreamliners.
He declined to quantify the amount of compensation.
Last year, Boeing had projected India would need 1,001 aircraft worth more than $105 billion over the next 20 years and Keskar said the forecast was still valid despite the econ-omic downturn that has impacted the global aviation industry.
Boeing has not seen any cancellation of its order for civilian aircraft from Indian airlines, though Jet Airways deferred the order of two aircraft last year that was expected to be delivered later this year, he said.
"India is fortunate because the slowdown in India is less severe than any parts of the world," said Keskar, who was appointed head of India operations this month. "Fortunately, we are doing very well in India compared to our competition."
Boeing, which also competes for defence projects in Asia's third-largest economy, and European rival Airbus have seen new orders for planes slump as many major economies have slid into recession.
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