Aircraft manufacturer, Boeing, on Wednesday (July 23) said that there were no deferrals or cancellations of orders placed by Indian air-carriers in the wake of the carriers posting losses. "None of the air-carriers have asked us for either a deferral or cancellation...we are very comfortable with the market position," Boeing's Senior Vice President, Sales (commercial airplanes), Dinesh Keskar, said, while releasing the Current Market Outlook (CMO)2008-2028 report. "We have fortunately not contributed to over-capacity as in the last ten months we have not delivered many aircraft," Keskar said. On the CMO, Keskar said that Boeing remained bullish about the Indian market and that the situation in the Indian aviation industry was likely to improve by end-this year. "We remain bullish about the Indian market. With an 8% annual Revenue Passengers Kilometers (RPK) growth rate over the next 20 years, India has the highest RPK growth rate in the world," Keskar said. The CMO for 2008-2028 forecast suggests India would require 1,001 commercial aircraft, both passenger and freighter, over the next 20 years, at an investment of $105-billion. The company, in the 2007 CMO, had predicted a requirement of 911 aircraft at a value of around $86-billion. The forecast takes into account factors such as the industry's long-term challenges, including slowing worldwide economy, surging oil prices and slowing traffic growth. (PTI) ... read more »