Boeing estimates losses after leaving Russian market

The Boeing Co. softened expectations for demand for commercial aircraft in the coming decades due to the prospect of lower global economic growth and uncertainty about the supply of high-pressure jets to the Russian market.

Report informs, citing Bloomberg, that the company's latest long-term commercial market forecast indicates that 41,170 new aircraft will be delivered to customers by 2041. A year earlier, Boeing expected to sell 43,610 aircraft over the next 20 years. The manufacturer also cut its full-year ridership growth forecast from 4% to 3.8%.

The latest forecast excluded any future deliveries to buyers from Russia. Last year, Boeing expected Russian customers to receive more than 1,500 aircraft over the next two decades.

Overall, the company predicts it will be able to sell aircraft steadily over the next decade as airlines expand their fleets in the wake of the pandemic.