CORRECT: Airbus: Expect Global Market Share Around 45%-50% Next 10 Years

Date : 03/07/2011 @ 2:37AM
Source : Dow Jones News
Stock : China Southern Airlines Company Limited (ZNH)
Quote : 57.33  0.37 (0.65%) @ 4:02PM

CORRECT: Airbus: Expect Global Market Share Around 45%-50% Next 10 Years

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European commercial aircraft manufacturer Airbus said Monday it expects to maintain its global market share for commercial aircraft sales at 45% to 50% over the next 10 years, despite new entrants to the industry.

Chris Emerson, Airbus' senior vice president of product strategy and market forecast, told a news conference in Hong Kong the company sees continued expansion in air traffic demand in the Asia-Pacific region, forecasting growth at 5.8% each year through 2029.

The Toulouse, France-based company, a division of European Aeronautic Defense & Space Co NV (EAD.FR), is on track to deliver China Southern Airlines Co.'s (1055.HK) first A380 wide-body aircraft in the second half, Emerson said. China Southern is the only Chinese airline to have ordered the superjumbo aircraft.

Separately, Airbus said Monday it has appointed a unit of aircraft maintenance provider Hong Kong Aircraft Engineering Co. (0044.HK) to outfit the cabins of the plane maker's corporate jets. Haeco, a unit of Swire Pacific Ltd., is the first Asian company appointed by Airbus to help outfit such cabins.

-By Joanne Chiu, Dow Jones Newswires; 852-2802-7002;


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