Airbus raises plane demand forecast

LONDON: Airbus SAS revised higher its long-term demand forecast by 3.6% yesterday, saying the aviation industry would need 29,226 new passenger and freight jets worth $4.4 trillion over the next 20 years, led by growth in Asia.

The new 20-year forecast includes 28,355 passenger jets, up 3.7% from its previous estimate a year ago, and 871 freighters, up 1.6%.

Airbus hiked its forecast for demand for long-distance twin-engined passenger jets such as the upcoming Airbus A350 and Boeing Co’s Dreamliner by 4.3% to 6,779 aircraft.

The forecast for short- and mediumhaul jets like the Airbus A320 and Boeing 737, which dominate production by the world’s largest planemakers, was lifted by 3.7% to 20,242 jets.

But amid slow sales of its A380 superjumbo and Boeing’s 747, Airbus kept its forecast for the world’s largest jetliners flat at 1,334 aircraft.