Airbus opens Asia office

Airbus opens Asia office

SINGAPORE (Reuter): Europe's Airbus Industrie said yesterday it has opened a new regional office in Singapore to further strengthen its foothold in Asia.

The new Southeast Asia office would cover the countries of the ASEAN (Association of Southeast Asian Nations) economic zone, Airbus said in a statement.

ASEAN includes Singapore, Thailand, Malaysia, Vietnam, Brunei, Indonesia and the Philippines.

Airbus said the Asia Pacific area had been identified as its priority market, with regional airlines predicted to continue recording higher than average traffic growth of about 6.5 percent a year, translating to a market for 3,800 aircraft over the next 20 years.

"With advance orders industry-wide standing around 400 aircraft, this leaves an open market for some 3,400 units, valued at an estimated US$340 billion," the company said.

Airbus Industrie added the region would also play an important role in its plans to develop a new 550-seat aircraft, with airlines from the area expected to take delivery of around 560 aircraft of that size by year 2014.