Airbus shares are higher Tuesday as the European plane maker’s latest global forecast for the industry suggests demand for new planes should remain robust in the next 20 years. The firm has also unveiled the latest addition to its fleet – the A220.
By 1140 BST, Airbus shares were 2.88% higher at €102.26. The stock has been moving broadly lower in recent weeks.
Airbus shared its latest global outlook for the aviation industry ahead of the UK, Farnborough air show. In it, the European plane maker said it anticipates the world’s air passenger fleet will more than double in the next 20 years, to total 48,000 commercial passenger aircraft.
That’s something that would require an additional 37,390 new passenger and freighter planes by 2037, the firm said.
Airbus details a variety of reasons behind it’s growth outlook for the industry. They include:
- Rising global consumption from consumers in emerging economies.
- Improved and greater aircraft range and capacity will also support growing demand.
“There is a growing trend to use aircraft across a broader range of operations, with today’s more capable aircraft blurring the boundaries between market segments,” said Airbus chief commercial officer, Eric Schulz.
“These realities made us develop a new segmentation with Small, Medium, Large and Extra-Large categories, reflecting more closely the way airlines operate aircraft,” Shulz said. He added that Airbus is “extremely strong in this Medium market segment.”
Latest Airbus craft addition
And, following the successful route-proving global flight test of its latest A330neo 900 aircraft, the European plane maker Tuesday unveiled the A220 – its newest addition to the Airbus fleet.
While the A330neo 900 is a wide-body, long-haul passenger aircraft, the A220 is a smaller passenger aircraft and is actually the rebranded Bombardier C-Series plane. The development comes after Airbus acquired 50.1% of the Bombardier C-Series project in the autumn of 2017.
This ‘new’ plane will be manufactured in a new facility in Alabama in the US.