Boeing Cuts Forecast for Airplane Demand Due to the Coronavirus

Boeing (NYSE: BA) now expects deliveries of 18,350 commercial aircraft over the next decade, down 10.7% from its previous forecast, with the coronavirus pandemic expected to create minimal demand for new jets through the next few years.

In its annual market review, the company said it still expects 43,110 commercial aircraft deliveries over the next 20 years, down only slightly from its previous forecast of 44,040, implying that it believes the industry will be able to make up for lost sales in the years that follow the next decade. Boeing enjoys a duopoly with Airbus (OTC: EADSY) in global aircraft production, and the two companies would be expected to soak up much of that demand.

Image source: Boeing.

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Source Fool.com