Boeing sees growth in Mideast, 2011 airline recovery

Boeing, which expects airlines to return to profitability in 2011, said on Monday that Middle East carriers would need 1,710 new jets over the next 20 years, valued at about $300 billion. The aircraft manufacturer also said it expects passenger traffic to grow at a rate of 4.9 percent each year over the next 20 years. In a presentation at the Dubai Air Show, Boeing said growth and rising incomes in emerging markets in the Middle East as well as China and India would balance global aircraft demand.