News: Airbus to invest $1b in India

(PTI 07/12/2006) New Delhi - European aerospace major Airbus is planning to invest $1 billion in India over the next ten years. Predicting robust growth in the India civil aviation sector, Airbus today said India would require passenger and freight aircraft, valued at $105 billion, to serve the strong demand by 2025. According to the latest Airbus global market forecast, India will become the fastest-growing country for air travel for the next decade. "Strong demand in India is being unleashed by Air transport deregulation, the emergence of a number of new operators, low fares and large untapped demand for air travel," Airbus COO (customers) John Leahy said today. According to the forecast, India will require 1,100 passenger and freight aircrafts by 2025 of which 935 will be passenger aircraft. The number of passenger aircraft will increase five-fold from 190 aircrafts in service at the end of 2005. Earlier, US major Boeing, a competitor of Airbus, had predicted similar growth in Indian aircraft demand.