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

Dubai: Airlines in the Middle East are expected to buy 1,710 commercial jets worth $300 billion over the next two decades, according to the Boeing Company.

Boeing's latest market outlook reports airline industry growth in the Middle East is expected to continue over the next 20 years.

The health of the Middle East's air-travel industry compared to other global regions continues to drive good investment opportunities in aircraft financing.

"The Middle East was the only part of the world to see air passenger growth during the current downturn," said John Matthews, managing director for the Middle East and Africa at Boeing Capital Corporation, the aircraft manufacturer's customer financing unit.

Positive sign

"This is a positive sign of industry health, which, when combined with reduced competition in the financing marketplace because of current market conditions, creates great opportunities for people with capital who are willing to invest."

Matthews, along with Mike de Graffenried, Chief Executive of Qatar First Investment Bank, co-hosted the company's first Financier and Investors Qatar Roundtable at the Four Seasons Hotel. The event saw one of the largest turnouts to date for such a company-sponsored regional roundtable.