Low-cost air travel will drive trillion-dollar airline spending spree, says Boeing

European airlines will spend US$1.1t on new aircraft over the next 2 decades as air travel booms and demand for smaller, LCCs soars, according to Boeing. The aircraft maker predicts that European airlines will need more than 7,500 new aircraft by 2035, which, based on its current catalogue prices, would mean a spending spree of $1.1t to help meet the rising demand for single-aisle aircraft. European airlines acquired more than 240 new airplanes in 2015, of which 67% were narrow-body planes. But Boeing estimates that by 2035 almost 80% of new aircraft entering the European market will be smaller carriers, at a total cost of up to $640b. As a result the number of narrow-body planes carrying European passengers will climb from just over 3,300 in 2015 to almost 6,000 by 2035 <br/>