Airbus to up plane fleet

City A.M. Reporter
Airbus sees demand for some 28,000 new aircraft worth $4 trillion (£630bn) to cater for air travel growth in the next 20 years, the European planemaker said today.

By 2031, the global passenger plane fleet will rise to over 32,550 aircraft from 15,500 today, Airbus said, adding that the Asia Pacific region would account for 35 per cent of all new aircraft deliveries in the next two decades.

Passenger traffic will grow at an average annual rate of 4.7 per cent in the next 20 years, during which some 10,350 aircraft will be replaced by new efficient models, EADS-owned Airbus said today.

"Aside from growth in international traffic, by 2031 four of the world's biggest traffic flows will all be domestic – US, China, Intra Western Europe and India," Airbus sales chief John Leahy said.

"In 20 years from now, China's domestic passenger traffic will overtake the US domestic traffic to become the number one traffic flow in our forecast. Aviation is not just essential for international commerce, but also for domestic economies too."