AIR

By Yi Wei Wong

Airbus SE said it expects airlines based in Australia, New Zealand and neighboring nations to take delivery of 920 new aircraft over the next 20 years.

This is based on the assumption that passenger traffic in the Pacific region will rise by an average of 3.2% annually over the next two decades, according to the latest Airbus global market forecast.

The expected demand will include about 750 single-aisle jets, such as the A220 and A320 families of aircraft, and around 170 wide-body planes, such as the A330neo and A350 models, Airbus said Monday.

About 55% of the expected aircraft demand will be for growth, while 45% will be to replace planes currently in service, it said.

"We are already seeing steady recovery in global air traffic and a renewed confidence in the growth of the industry. This is particularly evident in the Pacific region, where we are seeing a surge in travel demand and an increase in flights to and from key destinations," said Stephen Forshaw, Airbus chief representative for Australia, New Zealand and the Pacific.

Write to Yi Wei Wong at yiwei.wong@wsj.com

(END) Dow Jones Newswires

February 27, 2023 00:42 ET (05:42 GMT)

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