New aircraft backlog stretches well into 2030s: Boeing boss

afr.com:

Boeing’s global president and chief executive Dave Calhoun says the backlog of orders for new passenger aircraft is not going to ease any time soon, with the waitlist stretched well into the 2030s.

While the global aviation industry has recovered from the pandemic, he said the demand for new aircraft from airlines around the world was easily out-stripping supply for both Boeing and its main competitor, Airbus.

Boeing’s global president and chief executive, Dave Calhoun, says he expects supply chain backlogs to ease by the end of next year. Jamila Toderas

But while the post-pandemic surge in demand is good for airlines and plane manufacturers like Boeing, it’s not good news for consumers, with Mr Calhoun saying prices will remain high until supply chain backlogs are cleared.

“As long as planes are full, prices are going to go up,” Mr Calhoun said in an interview with The Australian Financial Review.

“Supply chain constraints are what’s causing the spike. And the good news for our industry is everyone is willing to pay those [fares]. They may be mad about them, but they are still paying them.”

Mr Calhoun, who has been in Australia this week including in Canberra for meetings with the Albanese government and Defence officials, said Boeing had emerged from its “two existential crises” – the global pandemic and the grounding of the Boeing Max after 346 people died in two crashes.

“We are well through the existential moments. The market has swung back significantly,” he said.

“The demand for new aircraft in the civil space is more than the industry can handle and in the defence space, the old alliances will take on an even more critical role in facing a very different strategic threat that represents a huge market opportunity