Aviation
Boeing Predicts China’s Commercial Airplane Fleet to Double by 2043
Boeing’s latest forecast paints a picture of rapid growth and modernization for China’s aviation industry. According to the 2024 Commercial Market Outlook (CMO) for China, the country is set to more than double its commercial airplane fleet by 2043.
This expansion reflects the ongoing transformation of China’s aviation sector, driven by rising demand for passenger and cargo air travel.
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China’s commercial fleet is projected to grow at an annual rate of 4.1%, increasing from 4,345 airplanes in 2024 to a staggering 9,740 airplanes by 2043. This growth is not only a response to increasing passenger volumes but also a reflection of the airlines’ strategic efforts to enhance connectivity by expanding networks between major hubs and smaller cities.
The CMO also anticipates that China’s annual passenger traffic growth will outpace the global average, reaching 5.9%, compared to a global rate of 4.7%. Single-aisle aircraft will dominate the market, accounting for over three-quarters of all deliveries, as air travel within China is set to become the world’s largest traffic flow.
The country will also see a significant expansion in its widebody fleet, with a demand for 1,575 new widebody airplanes, positioning China to have the world’s largest widebody fleet. Additionally, the forecast predicts that China’s freighter fleet, including both dedicated and converted models, will nearly triple by 2043, driven by the booming e-commerce sector.
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Beyond the expansion of the fleet, the report highlights the broader impact on the aviation ecosystem. Boeing estimates that Chinese carriers will require $780 billion in aviation services to support the growing fleet, encompassing digital solutions, maintenance, and modifications.
To support this fleet expansion, the industry will need to hire and train nearly 430,000 new personnel, including pilots, maintenance technicians, and cabin crew. Boeing’s relationship with China spans over five decades, with the company’s airplanes playing a critical role in the country’s civil aviation passenger and cargo transportation systems.
Boeing’s deep ties with China’s aviation manufacturing sector are also evident, as it is the largest customer of China’s aviation industry, with more than 10,000 Boeing airplanes currently flying with China-made parts. This partnership contributes over $1.5 billion annually to China’s economy through various means, including supplier contracts, joint ventures, operations, training programs, and research and development investments.
Aviation
No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation
Jet Airways was once one of India’s leading airlines, known for its service and extensive network. Founded in 1993, it served millions of passengers, connecting cities across India and international destinations.
However, since grounding its flights in April 2019, Jet Airways has struggled to navigate financial turbulence, leading to years of efforts to revive the airline and return it to the skies.
On Thursday, the Supreme Court ordered the liquidation of Jet Airways, citing “no choice” but to take this decisive step after the resolution plan failed to meet creditor obligations. The court invoked its extraordinary powers under Article 142, which allows it to make orders for “complete justice” in any case, overriding previous tribunal rulings.
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The Jalan-Kalrock Consortium (JKC), which had won the bid to revive Jet, faced criticism for not fulfilling payment commitments to creditors, which included major banks like the State Bank of India and Punjab National Bank.
The Supreme Court’s ruling pointed to “peculiar and alarming” issues surrounding the resolution plan’s implementation, leading to its conclusion that liquidation was the only feasible outcome.
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Chief Justice DY Chandrachud, alongside Justices JB Pardiwala and Manoj Misra, emphasized that while liquidation should be a last resort, it was necessary as the resolution plan was “no longer capable of implementation.”
In line with this decision, the court ordered that the ₹200 crore already infused by JKC be forfeited and directed the National Company Law Appellate Tribunal (NCLAT) in Mumbai to appoint a liquidator to oversee the process.
JKC, a partnership between Murari Jalan, a UAE-based Indian entrepreneur, and Florian Fritsch, a Jet shareholder through Kalrock Capital Partners Limited, had taken ownership of Jet Airways two years after it was grounded. The consortium’s inability to fulfill its financial obligations has now led to this final verdict, marking the end of an era for Jet Airways in India.
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