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Boeing bullish on India despite crisis

February 11, 2009 10:16 IST

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Despite the global meltdown, Boeing, the world's largest manufacturer of commercial and defence aircraft, on Tuesday said there is no cancellation in its orders from India and assured to deliver aircraft on schedule to its buyers including Air India, the official national carrier.

"We have zero cancellation from India. We have been working carefully. We sold $25 billion worth of aircraft in the last three years. Hundred more are to be delivered in the next five years which is valued at $17 billion", Dinesh Keskar, the newly appointed president of Boeing India, who takes over his new responsibilities from March 1 said.

Boeing's major buyers in India, Air India, Spice Jet and Jet Airlines have not made any cancellation, Keskar said. "I don't expect any cancellation. We are gearing up to deliver a big order for 68 aircraft by Air India".

Striking an optimistic note about the Indian economy recovering in the fourth quarter of this year, as it has maintained a 'good GDP growth' of about seven per cent, Keskar also hoped that Indian aviation sector, "which is not making profit" currently, should see a turnaround following dropping fuel prices from $140 per barrel to around $40.

"India is on a much better footing. Because of this its recovery should also be faster unlike in USA. India should see an upturn in the fourth quarter of this year", he said.



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