Boeing says pandemic will cut demand for planes for a decade
SEATTLE - Boeing says the pandemic will reduce demand for new planes for the next decade, long after experts expect a vaccine for COVID-19.
The company updated its forecast of the airplane market on Tuesday. It remains upbeat about long-term prospects driven by increasing air travel in Asia.
Boeing, which along with Europe’s Airbus dominates the aircraft-building industry, has seen orders and deliveries of new planes crumble this year.
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The Chicago-based company was already under pressure from the grounding last year of its best-selling plane, the 737 Max, after two deadly crashes.
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