Boeing forecasts European passengers will grow 3% per year over next 20 years

Boeing (NYSE:BA)’s vice president of commercial marketing forecast on Monday that European passenger traffic would grow by 3.1% per year over the next 20 years, and said demand for planes in the region would keep rising as the COVID-19 recovery progresses.

Darren Hulst, U.S. planemaker Boeing’s VP of commercial marketing, said that in the near term, 700 aircraft would need to be replaced in Europe because of the ageing fleet in the region.