Singapore: Airbus is sticking to upbeat forecasts for aircraft demand in India in the face of financial woes creeping across its airline sector, the European planemaker's sales chief said on Monday.
"I think that you'll still see a lot of growth. Will there be occasional hiccups along the way? Probably. In any rapidly growing market, you'll have some problems," John Leahy told reporters in Singapore.
The Indian aviation industry lost a combined $2 billion last year and all but unlisted IndiGo - an Airbus customer - lost money, complaining of high taxes on jet fuel, expensive airports and subsidies to state carrier Air India.
Another Airbus customer, Kingfisher Airlines (KING.NS), plunged further into difficulty on Monday when the Indian government announced plans to scrap its domestic slots and international flying rights.
25/02/13 Reuters
