- Airbus SE (OTC:EADSY) expects the Indian aviation sector to order 2,210 planes over the next 20 years, up from a previous forecast of 1,900, reported Reuters.
- With low-cost carriers making up the bulk of the Indian market, Airbus expects airlines will need 1,770 narrowbody planes to grow their fleets and replace old planes, with the remainder being widebody planes, the report cited Brent McBratney, head of airline marketing for India and South Asia.
- McBratney notes that India's domestic and international air travel market is expected to grow 6.2% per year over the next 20 years, outpacing the average global growth of about 3.9%.
- Airbus expects domestic air travel in India to reach pre-COVID levels by mid-2022, while international travel traffic is expected to recover by next year.
- Price Action: EADSY shares are trading higher by 1.20% at $29.61 on the last check Thursday.
