By Yifan Wang 
 

Boeing Co. on Thursday released strong forecasts for China's aircraft demand, even as the aerospace company said it expects a weaker global market amid the coronavirus pandemic.

The U.S.-based company said it expects Chinese airlines to acquire 8,600 new airplanes worth $1.4 trillion over the next 20 years.

The demand strength will be supported by a robust economic recovery from the pandemic, China's rapidly growing middle class and deepening urbanization, it said.

In October, Boeing cut its estimate for global airplane demand due to the public health crisis.

"While Covid-19 has severely impacted every passenger market worldwide, China's fundamental growth drivers remain resilient and robust," said Richard Wynne, managing director, China Marketing, Boeing Commercial Airplanes.

 

Write to Yifan Wang at yifan.wang@wsj.com

 

(END) Dow Jones Newswires

November 12, 2020 00:43 ET (05:43 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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