Boeing predicts growth in Northeast Asia market; EVA Air to welcome first 787 Dreamliner next year

▲ Randy Tinseth, Vice President of Marketing for Boeing Commercial Airplanes, shares Boeing’s market outlook at the event today. (Photo / Provided by Boeing)

Reported by Yu Jiayun / Taipei

Cathay Pacific and EVA Air have both announced the complete retirement of their 747 fleets within the past two years. Meanwhile, EVA Air will also welcome its first 787-9 aircraft in 2019. In response, Randy Tinseth, Vice President of Marketing for Boeing Commercial Airplanes, stated at a press conference today (the 11th) that Northeast Asia will require 1,470 new aircraft over the next 20 years, with over 70% of these needed to replace older models. Additionally, due to the simultaneous economic and trade growth in the region, demand for cargo aircraft has surged, which is expected to generate $50 billion in wide-body aircraft orders for Boeing.

Tinseth pointed out that over the past 20 years, airlines operating large flight networks in Northeast Asia have chosen to reduce the number of seats per flight by nearly 20%, while increasing flight frequency and the number of destinations served. This shift clearly highlights how newer, more efficient wide-body aircraft such as the 787 allow airlines to expand their global networks, making Northeast Asia the region with the highest demand for wide-body aircraft after the Middle East.

Regarding the rapidly growing low-cost carrier market, Tinseth believes that budget airlines have significantly contributed to the growth in air transport capacity in Northeast Asia over the past decade, now accounting for 25% of total seat capacity. Over 60% of these are operated using 737 aircraft. Furthermore, the development of long-haul routes by low-cost carriers has improved overall market efficiency.

▲ The Boeing 737 MAX 9 is set to be delivered before the end of the year. (Photo / Wikipedia)

Boeing unveiled the new 737 MAX 10 model at this year’s Paris Air Show, completing the 737 MAX family. The 737 MAX 9 is currently in the testing phase and is expected to be delivered by the end of this year, while the 737 MAX 7 and 737 MAX 10 will be delivered in 2019 and 2020 respectively. The 737 MAX series offers excellent performance, reliability, and efficiency, saving on seat costs. It has accumulated 3,700 orders globally, making it the fastest-selling aircraft in Boeing’s history.