Airbus lifts demand forecasts amid Asian growth

Airbus raised its forecast for aircraft demand over the next 20 years, citing the travel needs of 6 billion people in emerging economies as airlines stage a stronger-than-predicted rebound from recession.
By 2029, a third of all passenger traffic will be in Asia, compared with 27 percent now, while skies over North America will see their share of the global air travel market shrink to 20 percent from 28 percent.
"Demand for travel is doubling every 15 years ... but in places like India and China we expect to double in the next six years," Airbus sales chief John Leahy told a news conference on Monday.
The world's largest planemaker, ahead of rival Boeing, forecast deliveries of 25,850 new passenger and freight aircraft worth $3.2 trillion from 2010-29, an increase of 899 planes from its previous annual forecast.
The EADS subsidiary forecast average annual growth in passenger traffic of 4.8 percent over the period, up from 4.7 percent previously.
Latest forecasts from Boeing, which measures demand for aircraft of 90 seats and upwards compared with the Airbus cut-off point of 100 seats, were for 30,900 aircraft worth $3.6 trillion over the next 20 years.
Both planemakers face growing competition from Canada, China and, potentially, Brazil and Russia for sales of their smallest but most popular aircraft, the Airbus A320 and Boeing 737.
13/12/10 Reuters/Economic Times

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Categories: Foreign Dec 2010, Indian Aviation- In General Dec 2010