Manufacturing Industry
Airbus to win approval for A350 project - report
Airline Industry Information, Nov 22, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
European aircraft manufacturer Airbus is set to win approval from its parent company EADS for its new 250 seater A350 aircraft which will compete with rival Boeing's 7E7 aircraft.
EADS is set to approve a USD3.3bn investment into the new aircraft at a meeting in November 2004 to discuss the project according to business news service Bloomberg. The A350 will compete directly with US manufacturer Boeing's 250 seater 7E7 aircraft with the market for 250 seater aircraft estimated to be worth USD12bn a year.
Airlines including Qatar Airways, Aer Lingus and Korean Air Lines have all shown interest in the A350 according to Bloomberg and with Boeing struggling to meet its sales targets for the 7E7 Airbus could increase its dominance over Boeing with the new aircraft. EADS co-Chief Executive Philippe Camus confirmed that the A350 project would be discussed at the company's next board meeting, reports Bloomberg.
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