After Tuesday morning’s announcement that Air China would be the third commercial airline to purchase the 747-8 Intercontinental, Hong Kong Airlines announced shortly thereafter that it would order 30 787-9s along with six 777 freighters and two 787-8 VIP planes the Associated Press reports (via NPR).
The total face value of the Air China and Hong Kong Airlines order is nearly $10 billion although it is likely the two airlines have negotiated a much lower price as is standard with large airline orders.
The two orders announced today are another positive step for Boeing as it looks to strengthen its presence in the emerging Asian market which is expected to experience tremendous growth over the next two decades.
Chicago-based Boeing unveiled its long-range market forecast, predicting that the Asia-Pacific region will overtake North America and Europe as the world’s biggest air transport market over the next 20 years. Rival Airbus SAS made a similar prediction on Monday.
“As we look to the future, we look to Asia. Growth in this market will clearly change the landscape of aviation,” said Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes.
Boeing forecast that Asia will need 10,320 new airplanes over the next 20 years, or about a third of the world total. Air traffic growth is forecast at 6.8 percent a year, higher than the global average of 5.3 percent.
The order will not be official until it receives approval from the Chinese government which is required for such business transactions in China. The Asian Aersopace show kicks off today and runs through Thursday.