Airbus expects five percent growth for five years

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European plane maker Airbus is set to grow by more than five percent a year over the next five years with expanding air travel, the parent company EADS forecast on Tuesday.

Hans-Peter Ring, the financial director for the aerospace giant EADS, said at an investor forum in Toulouse that Airbus should achieve average growth of considerably over five percent for the next five years in line with the expansion of the air travel market, according to a copy of his presentation on the company's website.

The presentation also indicated Airbus should deliver 20 of its superjumbo A380 aircraft this year, and step up production to two per month next year and three per month in 2012.

Last week, the head of Airbus, Thomas Enders, said that severe damage to a Rolls Royce Trent engine while a Qantas Airbus A380 airliner was in flight was likely to set back deliveries of the aircraft.

EADS last week raised its outlook for operating profit this year as a recovery in the commercial aviation market boosted Airbus.

Airbus said last week that it expects to book an overall total of 500 orders this year, well above the previously expected figure of 400, and deliveries should exceed slightly 500, marking a record.

© 2010 AFP

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