By Richard Lough BUENOS AIRES (Reuters) - Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing either to cut a deal by the end of the day with "holdout" investors suing it or to win more time from a U.S. court to reach a settlement. Argentine Economy Minister Axel Kicillof hurried to New York on Tuesday to join last-ditch negotiations, holding the first face-to-face talks with the principals of New York hedge funds who demand full repayment on bonds they bought at a discounted rate after the country defaulted in 2002. Argentina has until the end of Wednesday to break the deadlock. If it fails, U.S. District Judge Thomas Griesa will prevent Argentina from making a July 30 deadline for a coupon payment on exchanged bonds.
US planemaker Boeing said about 533,000 new commercial pilots would be needed worldwide in the next two decades to cater to a growing global fleet. It said 584,000 new maintenance technicians would also be required between 2014 and 2033. "Pilot demand in the Asia Pacific region now comprises 41 percent of the world's need, and the Middle East region saw significant growth ...due to increased airline capacity and orders for wide-body models," a statement said. "Overall, the global demand is driven by steadily increasing airplane deliveries, particularly wide-body airplanes, and represents a global requirement for about 27,000 new pilots and 29,000 new technicians annually," it added.