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Boeing Says Latin America Needs 2,960 New Planes by 2038

  • Low-cost carriers will help drive expansion in the region
  • Brazil to surpass Japan to be No. 5 aviation market by 2020
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The Latin America aviation market will more than double in 20 years as Brazil’s economy recovers and discount carriers boost demand, driving a need for 2,960 new planes, according to Boeing Co.

“Low-cost carriers have really been the engine of growth in Latin America,” Darren Hulst, Boeing’s managing director for market analysis & sales support, said Tuesday in Sao Paulo. Discounters currently make up 35% of the total market and will continue to attract more customers in the region as they make flying affordable to the lower-income population, he said.