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China to spend over $1 trln on planes over next 20 years

China to spend over $1 trln on planes over next 20 years

SHANGHAI: Chinese airlines are likely to buy over 7,000 planes worth nearly $1.1 trillion over the next 20 years as they grow their fleets to meet robust demand for domestic and international travel, Boeing Co said on Wednesday.

Its latest estimate of 7,240 aircraft purchases for the period to 2036 is 6.3 percent higher than the U.S. planemaker’s previous prediction of 6,810 planes last year.