A Philippine Airlines Boeing 777-300ER. PHOTO courtesy of Philippine Embassy in the US.
MANILA, Philippines—American airline manufacturer Boeing has expressed its desire to sell more airplanes to the Philippines as it expects an increase in airline passenger traffic, particularly to the United States (US), over the coming years.
Top executives of Boeing told Philippine Ambassador to the US Jose Cuisia Jr. about their desire to get a larger market share in the Philippines during Cuisia’s visit to their manufacturing plant in Seattle.
“The demand for aircraft in Southeast Asia over the next 20 years will reach 3,500 units valued at $500 billion,” John Schubert, Managing Director for Marketing for Asia Pacific and India, was quoted as saying in a statement released by the Philippine Embassy.
“However, in the Philippines, out of the 141 commercial aircraft currently being used, only six are Boeings, a dismal 4 percent market share,” it said.
Boeing officials cited the projected 6.6 percent growth in passenger traffic for the Philippines over the next 20 years boosted also by the large market of Filipinos in the US.
“Six Boeing aircraft in service are the 777-300ERs that Philippine Airlines (PAL) currently uses for its long-haul flights to North America, which is considered the flag carrier’s largest and most profitable market with a population of more than 4 million Filipinos,” the statement said.
“The 777 is the most suitable aircraft for long range North American routes such as those of Philippine Airlines,” Dave Kell, Director of Product Marketing, Boeing Commercial Airplanes said in the statement.
A single 777-300ER costs around $330 million as of 2014, according to the website of Boeing.