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WATCHING THE WORLD: Shedding light on a dark market

07/21/2008
It should come as no surprise that airlines based in oil-producing nations were the main drivers of new aircraft orders last week at the biannual Farnborough International Air Show.But if you think that oil producers are the only ones who can afford new jets, then think again. Indeed, according to executives at US aircraft manufacturer Boeing, the continued high price of oil won’t dent their business at all.Boeing executives are genuinely upbeat about their future prospects, forecasting a global marketplace for new aircraft worth $3.2 trillion over the next 2 decades, with China—a net importer of oil—overtaking North America as the main market.“The Chinese market tod...
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